Hsbc Holdings PLC Lowers Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Hsbc Holdings PLC reduced its RGA stake by 69.4% during the first quarter, selling 18,400 shares and retaining 8,106 shares valued at approximately $1.65 million. Institutional investors collectively own 95.11% of the company.
• 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 declared a $0.93 quarterly dividend, equivalent to a 1.6% annual yield.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and an average price target of $255, compared with the stock’s reported price of $238.93.

Hsbc Holdings PLC trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 69.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,106 shares of the insurance provider's stock after selling 18,400 shares during the quarter. Hsbc Holdings PLC's holdings in Reinsurance Group of America were worth $1,647,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after purchasing an additional 987,014 shares in the last quarter. Norges Bank purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $173,767,000. Orion Porfolio Solutions LLC boosted its stake in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after buying an additional 592,748 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Reinsurance Group of America during the second quarter worth $69,426,000. Finally, Balyasny Asset Management L.P. acquired a new position in Reinsurance Group of America during the third quarter worth $35,266,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 0.0%

Reinsurance Group of America stock opened at $238.93 on Monday. The stock has a 50-day moving average price of $216.78 and a 200 day moving average price of $210.87. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $245.00. The stock has a market cap of $15.65 billion, a PE ratio of 12.94 and a beta of 0.47. 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 released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.66 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America's dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling

In other Reinsurance Group of America news, 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 transaction of $1,474,060.00. Following the transaction, the executive vice president owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John W. Hayden sold 414 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RGA has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. TD Cowen upped 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 report on Wednesday. Wall Street Zen upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. 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 note on Thursday, July 9th. Finally, Evercore reaffirmed an "outperform" rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.00.

About Reinsurance Group of America

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.