Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,479 shares of the insurance provider’s stock after selling 5,939 shares during the quarter. Cambiar Investors LLC owned about 0.12% of Reinsurance Group of America worth $17,098,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RGA. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at about $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America during the second quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter worth approximately $34,000. 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 William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $215.17 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1-year low of $146.16 and a 1-year high of $227.87. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 16.74 and a beta of 0.91. The business has a 50-day moving average of $215.72 and a 200-day moving average of $209.02.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $1.02. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $5.57 earnings per share. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. The ex-dividend date is Tuesday, November 12th. This represents a $3.56 annualized dividend and a dividend yield of 1.65%. Reinsurance Group of America’s dividend payout ratio is presently 27.70%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Raymond James lifted their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group upped their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Sandler raised their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.62.

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.