Amalgamated Bank Sells 9,834 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Amalgamated Bank cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 23.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,384 shares of the insurance provider’s stock after selling 9,834 shares during the quarter. Amalgamated Bank’s holdings in Reinsurance Group of America were worth $6,838,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in shares of Reinsurance Group of America in the first quarter worth $675,000. Price T Rowe Associates Inc. MD boosted its holdings in Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after acquiring an additional 2,524 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Reinsurance Group of America by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock valued at $13,000,000 after purchasing an additional 3,247 shares during the period. Finally, M&G Plc grew its holdings in shares of Reinsurance Group of America by 5.0% in the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after purchasing an additional 4,025 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RGA. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James increased their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Citigroup increased their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Barclays reduced their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $227.38.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of RGA opened at $227.70 on Thursday. Reinsurance Group of America, Incorporated has a 1-year low of $153.79 and a 1-year high of $227.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $15.00 billion, a PE ratio of 20.91 and a beta of 0.92. The firm has a fifty day moving average price of $215.96 and a 200 day moving average price of $209.94.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.57 EPS. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.74 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Reinsurance Group of America 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.