Intech Investment Management LLC Cuts Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Intech Investment Management cut its stake in Reinsurance Group of America by 58.9% in the fourth quarter, selling 34,241 shares and ending with 23,916 shares valued at about $4.87 million.
• Insider selling was also reported, with EVP Ronald Herrmann selling 7,000 shares and EVP John W. Hayden selling 414 shares; insiders now own just 0.60% of the stock.
• RGA beat quarterly earnings expectations, reporting EPS of $6.97 versus $6.03 expected, while revenue rose 23.5% year over year to $6.49 billion. The company also announced a quarterly dividend of $0.93 per share, yielding 1.9% annually.

Intech Investment Management LLC trimmed its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 58.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,916 shares of the insurance provider's stock after selling 34,241 shares during the period. Intech Investment Management LLC's holdings in Reinsurance Group of America were worth $4,866,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RGA. Activest Wealth Management purchased a new position in Reinsurance Group of America during the fourth quarter valued at $30,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the fourth quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the third quarter valued at $38,000. Entrust Financial LLC purchased a new position in Reinsurance Group of America during the fourth quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Reinsurance Group of America by 632.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 177 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company's stock, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction dated 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 approximately $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $200.81 on Monday. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $229.21. The stock has a market capitalization of $13.15 billion, a P/E ratio of 10.88 and a beta of 0.47. The firm has a fifty day simple moving average of $208.09 and a two-hundred day simple moving average of $204.70. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.47 billion. During the same period last year, the company posted $5.66 EPS. The business's revenue was up 23.5% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America's payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RGA. Piper Sandler dropped their price objective on shares of 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. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. UBS Group lifted their price objective on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Finally, Barclays lifted their price objective on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $251.25.

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.