Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 33.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,595 shares of the insurance provider's stock after selling 111,129 shares during the quarter. Millennium Management LLC owned approximately 0.33% of Reinsurance Group of America worth $46,698,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RGA. Lazard Asset Management LLC increased its stake in shares of Reinsurance Group of America by 8.6% during the fourth quarter. Lazard Asset Management LLC now owns 105,171 shares of the insurance provider's stock worth $22,466,000 after purchasing an additional 8,365 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Reinsurance Group of America by 1.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 652,642 shares of the insurance provider's stock worth $139,424,000 after buying an additional 8,161 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of Reinsurance Group of America by 54.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 5,250 shares of the insurance provider's stock valued at $1,122,000 after acquiring an additional 1,845 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Reinsurance Group of America by 190.1% during the fourth quarter. Gotham Asset Management LLC now owns 12,381 shares of the insurance provider's stock valued at $2,645,000 after acquiring an additional 8,113 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its position in shares of Reinsurance Group of America by 9.8% in the fourth quarter. Graham Capital Management L.P. now owns 41,225 shares of the insurance provider's stock valued at $8,807,000 after acquiring an additional 3,693 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RGA. Piper Sandler dropped their price target on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. UBS Group reaffirmed a "neutral" rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America has a consensus rating of "Moderate Buy" and a consensus target price of $228.85.

Reinsurance Group of America Trading Down 2.1%

RGA stock traded down $4.41 during trading on Wednesday, reaching $203.83. 316,875 shares of the stock were exchanged, compared to its average volume of 408,294. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 18.98 and a beta of 0.57. The business has a 50 day moving average price of $191.61 and a 200-day moving average price of $206.71. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating the consensus estimate of $5.33 by $0.33. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The business's revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.02 EPS. On average, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.75%. Reinsurance Group of America's dividend payout ratio is currently 30.04%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.