South Dakota Investment Council Sells 5,218 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• South Dakota Investment Council reduced its RGA position by 4.2%, selling 5,218 shares and retaining 118,430 shares valued at approximately $24.2 million. Institutional investors collectively own 95.11% of the company.
• Analyst sentiment remains positive, with RGA holding a consensus “Moderate Buy” rating and a $255 average price target; UBS upgraded the stock to “Strong Buy,” while Wells Fargo and Barclays raised their targets.
• RGA reported quarterly EPS of $6.97, exceeding estimates of $6.03, while revenue rose 23.5% year over year to $6.49 billion. The company also pays a quarterly dividend of $0.93, equivalent to a 1.6% annual yield.

South Dakota Investment Council trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,430 shares of the insurance provider's stock after selling 5,218 shares during the quarter. South Dakota Investment Council owned about 0.18% of Reinsurance Group of America worth $24,179,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management bought a new position in Reinsurance Group of America during the fourth quarter valued at approximately $30,000. Tobam lifted its stake in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth approximately $35,000. Entrust Financial LLC bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $40,000. Finally, Advisory Services Network LLC bought a new stake in Reinsurance Group of America in the third quarter worth $38,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of 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. Piper Sandler reduced their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. UBS Group raised Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Barclays upped their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Evercore restated an "outperform" rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.00.

Reinsurance Group of America Stock Down 2.2%

Shares of RGA opened at $237.35 on Thursday. The company has a market capitalization of $15.55 billion, a price-to-earnings ratio of 12.86 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $245.00. The stock's 50-day moving average price is $218.38 and its 200-day moving average price is $211.67. 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 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. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the company posted $5.66 earnings per share. Reinsurance Group of America's revenue for the quarter was up 23.5% on a year-over-year basis. On average, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America's payout ratio is currently 20.15%.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction 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 completion of the transaction, the executive vice president directly owned 20,949 shares of the company's stock, 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.

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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