ProShare Advisors LLC Reduces Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• ProShare Advisors LLC trimmed its RGA position by 3.3% in the fourth quarter, selling 5,989 shares and leaving it with 176,173 shares valued at about $35.8 million.
• RGA reported strong quarterly results, posting $6.97 EPS versus the $6.03 consensus estimate and revenue of $6.49 billion, with revenue up 23.5% year over year.
• The company also raised shareholder returns and remains well followed by analysts, announcing a quarterly dividend of $0.93 per share and carrying a “Moderate Buy” consensus rating with a $251.25 average price target.

ProShare Advisors LLC cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,173 shares of the insurance provider's stock after selling 5,989 shares during the quarter. ProShare Advisors LLC owned 0.27% of Reinsurance Group of America worth $35,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RGA. Goldman Sachs Group Inc. boosted its holdings in Reinsurance Group of America by 44.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider's stock valued at $43,554,000 after acquiring an additional 67,880 shares during the period. Focus Partners Wealth boosted its holdings in Reinsurance Group of America by 121.2% during the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider's stock valued at $527,000 after acquiring an additional 1,466 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 58 shares during the period. Gabelli Funds LLC purchased a new stake in Reinsurance Group of America during the 2nd quarter valued at about $1,006,000. Finally, Cerity Partners LLC raised its position in Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider's stock valued at $6,688,000 after purchasing an additional 4,527 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $210.12 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $13.76 billion, a P/E ratio of 11.38 and a beta of 0.50. The stock's 50 day moving average is $207.21 and its 200 day moving average is $203.39. Reinsurance Group of America, Incorporated has a twelve month low of $165.52 and a twelve month high of $229.21.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.66 EPS. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 26.39 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio (DPR) is currently 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 sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RGA shares. Piper Sandler lowered their price target on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Barclays upped their price target on Reinsurance Group of America from $256.00 to $268.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. UBS Group upped their price target on Reinsurance Group of America from $216.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Seven 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's stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus 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.