Y Intercept Hong Kong Ltd Sells 17,605 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Reinsurance Group of America by 42% in the first quarter, selling 17,605 shares and leaving it with 24,275 shares worth about $4.96 million.
• RGA reported strong first-quarter results, with EPS of $6.97 beating estimates by $0.94 and revenue of $6.49 billion topping expectations; revenue rose 23.5% year over year.
• The company also paid a quarterly dividend of $0.93 per share, while analysts maintain a generally positive view with an average rating of “Moderate Buy” and a consensus price target of $251.25.

Y Intercept Hong Kong Ltd decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 42.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,275 shares of the insurance provider's stock after selling 17,605 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Reinsurance Group of America were worth $4,956,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp lifted its position in shares of Reinsurance Group of America by 2.8% in the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after acquiring an additional 64,296 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after purchasing an additional 987,014 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock worth $272,966,000 after purchasing an additional 12,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Reinsurance Group of America by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,564 shares of the insurance provider's stock worth $211,054,000 after purchasing an additional 49,323 shares during the period. Finally, Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $173,767,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Insider Transactions at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This 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. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $220.69 on Monday. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of 11.96 and a beta of 0.47. 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 business has a 50 day simple moving average of $209.54 and a 200-day simple moving average of $207.71. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $229.21.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. The firm 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 company's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.66 EPS. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current 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 dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. Reinsurance Group of America's payout ratio is currently 20.15%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Piper Sandler reduced their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Evercore reissued an "outperform" rating and set a $267.00 price target on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, Wall Street Zen raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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