Reinsurance Group of America, Incorporated $RGA Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its RGA stake by 20.5% in the first quarter, bringing its holdings to 75,532 shares worth approximately $15.4 million. Institutional investors collectively own 95.11% of the company.
• RGA reported quarterly earnings of $6.97 per share, beating estimates of $6.03, while revenue rose 23.5% year over year to $6.49 billion. The company also pays a $0.93 quarterly dividend, representing a 1.6% yield.
• Analyst sentiment remains favorable, with an average “Moderate Buy” rating and a consensus price target of $255, above the reported share price of $237.47. Several firms recently raised their targets, although two company executives sold shares.

California State Teachers Retirement System increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 20.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,532 shares of the insurance provider's stock after buying an additional 12,852 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Reinsurance Group of America worth $15,421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Activest Wealth Management acquired a new stake in shares of Reinsurance Group of America in the 4th quarter worth $30,000. Tobam boosted its position in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $35,000. Entrust Financial LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $40,000. Finally, Advisory Services Network LLC acquired a new stake in Reinsurance Group of America during the third quarter worth about $38,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 0.3%

NYSE:RGA opened at $237.47 on Monday. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $245.00. The stock's fifty day moving average is $219.32 and its two-hundred day moving average is $212.18. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 12.86 and a beta of 0.47. 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 earnings per share 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 analysts' expectations of $6.47 billion. During the same period in the previous year, the firm posted $5.66 earnings per share. The company's revenue was up 23.5% on a year-over-year basis. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on RGA. Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, 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 report on Monday, May 11th. One investment 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.com, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $255.00.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source