Rockefeller Capital Management L.P. Lowers Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Rockefeller Capital Management cut its stake in Reinsurance Group of America by 12.4% in the fourth quarter, selling 62,761 shares and leaving it with 443,749 shares valued at about $90.3 million.
• Insider selling also showed up in the period, with EVP Ronald Herrmann selling 7,000 shares and EVP John W. Hayden selling 414 shares. Company insiders now own just 0.60% of the stock.
• Analysts remain mostly bullish on RGA: the stock has a consensus “Moderate Buy” rating and an average price target of $251.25, while the company recently beat earnings expectations and raised its quarterly dividend to $0.93 per share.

Rockefeller Capital Management L.P. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443,749 shares of the insurance provider's stock after selling 62,761 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.68% of Reinsurance Group of America worth $90,286,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RGA. Caitong International Asset Management Co. Ltd acquired a new stake in Reinsurance Group of America during the 4th quarter worth approximately $53,000. Tobam boosted its position in Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after purchasing an additional 115 shares during the period. Wick Capital Partners LLC purchased a new stake in Reinsurance Group of America during the 4th quarter worth $201,000. DGS Capital Management LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at $261,000. Finally, Dean Capital Management raised its position in Reinsurance Group of America by 3.2% in the fourth quarter. Dean Capital Management now owns 11,160 shares of the insurance provider's stock valued at $2,271,000 after purchasing an additional 345 shares during the period. 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 the business's stock in a transaction dated 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 sale, the executive vice president directly owned 3,938 shares of the company's stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RGA has been the subject of several analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Barclays lifted their price objective on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, UBS Group upped their target price on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.25.

Reinsurance Group of America Trading Down 0.0%

RGA opened at $210.49 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $229.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $13.79 billion, a PE ratio of 11.40 and a beta of 0.47. The firm's fifty day moving average price is $208.47 and its 200 day moving average price is $206.35.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period last year, the business earned $5.66 EPS. As a group, research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio (DPR) is 20.15%.

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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