Healthcare of Ontario Pension Plan Trust Fund Sells 9,521 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its RGA stake by 55.6% in the first quarter, selling 9,521 shares and retaining 7,600 shares valued at approximately $1.55 million. Institutional investors collectively own 95.11% of the company.
• Analysts remain generally optimistic, with RGA receiving a consensus “Moderate Buy” rating and an average price target of $255. Several firms raised their targets, including Barclays to $278 and Wells Fargo to $269.
• RGA reported strong quarterly results, posting $6.97 in EPS versus the $6.03 consensus estimate, while revenue rose 23.5% year over year to $6.49 billion. The company also maintains a quarterly dividend of $0.93, or $3.72 annually.

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 55.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,600 shares of the insurance provider's stock after selling 9,521 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Reinsurance Group of America were worth $1,552,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in Reinsurance Group of America by 26.5% in the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider's stock valued at $18,343,000 after buying an additional 18,826 shares during the period. PNC Financial Services Group Inc. grew its holdings in Reinsurance Group of America by 34.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider's stock worth $4,332,000 after acquiring an additional 5,500 shares during the period. Tudor Investment Corp ET AL grew its holdings in Reinsurance Group of America by 616.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 60,870 shares of the insurance provider's stock worth $11,695,000 after acquiring an additional 52,372 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Reinsurance Group of America by 8,703.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 50,974 shares of the insurance provider's stock valued at $10,371,000 after purchasing an additional 50,395 shares during the period. Finally, Interval Partners LP lifted its stake in shares of Reinsurance Group of America by 186.5% in the 4th quarter. Interval Partners LP now owns 69,739 shares of the insurance provider's stock valued at $14,189,000 after purchasing an additional 45,399 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John W. Hayden sold 414 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares of the company's stock, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the 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 transaction, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RGA shares. Piper Sandler cut their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Barclays boosted their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Evercore restated an "outperform" rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $255.00.

Reinsurance Group of America Price Performance

RGA stock opened at $237.47 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The company's 50-day moving average is $219.32 and its 200-day moving average is $212.11. The stock has a market capitalization of $15.56 billion, a PE ratio of 12.86 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $245.00.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the company posted $5.66 EPS. The firm's revenue was up 23.5% compared to the same quarter last year. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Reinsurance Group of America Company 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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