Huntington National Bank Trims Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Huntington National Bank cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,127 shares of the insurance provider’s stock after selling 47 shares during the period. Huntington National Bank’s holdings in Reinsurance Group of America were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RGA. State Board of Administration of Florida Retirement System grew its position in Reinsurance Group of America by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock worth $13,000,000 after purchasing an additional 3,247 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased 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 period. Covestor Ltd raised its stake in Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 63 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Reinsurance Group of America by 4.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 41,936 shares of the insurance provider’s stock worth $8,089,000 after acquiring an additional 1,701 shares during the period. Finally, Vaughan David Investments LLC IL grew its stake in shares of Reinsurance Group of America by 0.6% in the 1st quarter. Vaughan David Investments LLC IL now owns 244,958 shares of the insurance provider’s stock valued at $47,247,000 after purchasing an additional 1,450 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RGA shares. Piper Sandler increased their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. TD Cowen assumed coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.38.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.37% of the stock is owned by insiders.

Reinsurance Group of America Stock Up 1.1 %

Shares of NYSE RGA opened at $231.95 on Friday. The firm’s 50-day moving average is $217.33 and its two-hundred day moving average is $211.64. The company has a market capitalization of $15.28 billion, a PE ratio of 21.30 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 12-month low of $157.21 and a 12-month high of $233.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The firm 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%. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.57 EPS. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company 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 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

About Reinsurance Group of America

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.