Gamco Investors INC. ET AL Cuts Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Gamco Investors cut its RGA position by 85.5% in the first quarter, selling 7,507 shares and retaining 1,277 shares valued at approximately $261,000. Institutional investors collectively own 95.11% of the company.
• Wall Street maintains a positive outlook, with RGA carrying a consensus “Moderate Buy” rating and an average price target of $255.00; several analysts recently raised their targets to as high as $286.
• RGA reported quarterly EPS of $6.97, beating estimates of $6.03, while revenue rose 23.5% year over year to $6.49 billion. The company also declared a quarterly dividend of $0.93, equivalent to a 1.6% annualized yield.

Gamco Investors INC. ET AL decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 85.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,277 shares of the insurance provider's stock after selling 7,507 shares during the quarter. Gamco Investors INC. ET AL's holdings in Reinsurance Group of America were worth $261,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $30,000. Tobam grew its stake in Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 115 shares during the period. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at $35,000. Entrust Financial LLC purchased a new stake in Reinsurance Group of America in the 4th quarter worth $40,000. Finally, Advisory Services Network LLC acquired a new position in Reinsurance Group of America during the third quarter worth $38,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Hayden sold 414 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. TD Cowen raised their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Piper Sandler cut their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Finally, Evercore restated an "outperform" rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and an average price target of $255.00.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $237.35 on Thursday. The company has a market cap of $15.55 billion, a P/E ratio of 12.86 and a beta of 0.47. Reinsurance Group of America, Incorporated has a twelve month low of $165.52 and a twelve month high of $245.00. The company's 50-day moving average price is $218.38 and its 200-day moving average price is $211.67. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. Reinsurance Group of America's revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.66 EPS. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.6%. Reinsurance Group of America's dividend payout ratio is 20.15%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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