Legal & General Group Plc Lowers Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Legal & General Group Plc reduced its stake in Reinsurance Group of America by 11.9% in the fourth quarter, selling 16,897 shares and leaving it with 124,590 shares valued at about $25.35 million.
• RGA reported stronger-than-expected quarterly results, posting EPS of $6.97 versus the $6.03 consensus and revenue of $6.49 billion, up 23.5% year over year.
• The company also declared a quarterly dividend of $0.93 per share, and analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $251.25.

Legal & General Group Plc lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,590 shares of the insurance provider's stock after selling 16,897 shares during the period. Legal & General Group Plc owned approximately 0.19% of Reinsurance Group of America worth $25,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RGA. Activest Wealth Management purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $38,000. Entrust Financial LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Reinsurance Group of America by 632.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider's stock valued at $42,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company's stock.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $200.81 on Monday. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $229.21. The company's 50-day moving average is $208.09 and its 200 day moving average is $204.70. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 10.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.66 EPS. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Barclays upped their price target on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the company an "overweight" rating in a report on Friday, May 8th. UBS Group upped 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 report on Thursday, April 9th. Wall Street Zen upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average target price of $251.25.

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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