Millennium Management LLC Sells 111,129 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Millennium Management LLC cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 33.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,595 shares of the insurance provider's stock after selling 111,129 shares during the quarter. Millennium Management LLC owned 0.33% of Reinsurance Group of America worth $46,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RGA. Colonial Trust Co SC increased its stake in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after acquiring an additional 57 shares during the period. Spire Wealth Management grew its holdings in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after purchasing an additional 57 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America in the fourth quarter worth $44,000. Private Trust Co. NA raised its stake in Reinsurance Group of America by 99.4% in the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock valued at $66,000 after purchasing an additional 155 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Reinsurance Group of America during the fourth quarter worth about $70,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RGA has been the topic of several recent analyst reports. UBS Group reissued a "neutral" rating and issued a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Morgan Stanley upped their target price on Reinsurance Group of America from $195.00 to $209.00 and gave the stock an "equal weight" rating in a research note on Monday. Evercore ISI decreased their price target on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded Reinsurance Group of America from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $232.00 to $237.00 in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $228.85.

Reinsurance Group of America Trading Down 0.1%

NYSE:RGA traded down $0.24 during mid-day trading on Thursday, hitting $203.51. 58,790 shares of the company's stock were exchanged, compared to its average volume of 407,618. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. 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 $13.45 billion, a P/E ratio of 18.93 and a beta of 0.57. The company has a 50 day simple moving average of $191.85 and a 200-day simple moving average of $206.69.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. The company 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%. Reinsurance Group of America's revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.02 earnings per share. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared 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 dividend yield of 1.75%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 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.