Reinsurance Group of America, Incorporated $RGA Shares Sold by Amundi

Key Points

• Amundi reduced its RGA stake by 25.9% in the first quarter, selling 19,201 shares and retaining 54,957 shares valued at approximately $11.2 million. Institutional investors collectively own 95.11% of the company.
• Analysts remain broadly positive, with RGA receiving a consensus “Moderate Buy” rating and an average price target of $255. JPMorgan and Barclays recently raised their targets to $286 and $278, respectively.
• RGA reported quarterly EPS of $6.97, exceeding estimates of $6.03, while revenue rose 23.5% year over year to $6.49 billion. Shares opened at $236.14, near the company’s 12-month high of $245.00.

Amundi decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,957 shares of the insurance provider's stock after selling 19,201 shares during the period. Amundi owned approximately 0.08% of Reinsurance Group of America worth $11,220,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Reinsurance Group of America by 148.4% in the fourth 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 during the period. Norges Bank acquired a new position in Reinsurance Group of America in the 4th quarter worth $173,767,000. Orion Porfolio Solutions LLC boosted its position in Reinsurance Group of America by 6,076.4% in the 2nd 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 during the last quarter. SEB Asset Management AB purchased a new position in Reinsurance Group of America in the 1st quarter valued at about $81,533,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Reinsurance Group of America during the second quarter valued at about $69,426,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RGA. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Piper Sandler decreased their price target on shares of 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. Evercore restated an "outperform" rating and issued a $267.00 price target on shares of Reinsurance Group of America in a research note on Monday, May 18th. Barclays upped their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.00.

Reinsurance Group of America Trading Down 0.1%

Shares of NYSE RGA opened at $236.14 on Wednesday. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 12.79 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12-month low of $176.96 and a 12-month high of $245.00. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock's 50 day simple moving average is $220.26 and its 200 day simple moving average is $212.72.

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 return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the prior year, the business earned $5.66 EPS. The firm's revenue was up 23.5% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

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.

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