Martingale Asset Management L P Lowers Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Martingale Asset Management L P cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,030 shares of the insurance provider’s stock after selling 12,602 shares during the period. Martingale Asset Management L P owned 0.17% of Reinsurance Group of America worth $25,062,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. Price T Rowe Associates Inc. MD raised its stake in shares of Reinsurance Group of America by 22.5% in 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 purchasing an additional 26,306 shares in the last quarter. Tidal Investments LLC grew its position in shares of Reinsurance Group of America by 88.5% during the 1st quarter. Tidal Investments LLC now owns 9,942 shares of the insurance provider’s stock valued at $1,918,000 after buying an additional 4,667 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $33,000. Atria Investments Inc bought a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $2,660,000. Finally, Cetera Investment Advisers grew its position in Reinsurance Group of America by 123.2% in the 1st quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock worth $3,103,000 after purchasing an additional 8,881 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $229.46 on Friday. The firm’s 50-day moving average is $220.07 and its 200-day moving average is $213.53. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 21.07 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 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 net margin of 3.32% and a return on equity of 15.01%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.57 earnings per share. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RGA shares. Piper Sandler upped their target price on shares of 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. Raymond James increased their target price on shares of 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. TD Cowen began coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred 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 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.37% of the company’s stock.

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.