Sumitomo Mitsui Trust Holdings Inc. Has $3.07 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Trust Holdings Inc. cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,970 shares of the insurance provider’s stock after selling 2,566 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reinsurance Group of America were worth $3,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Adage Capital Partners GP L.L.C. boosted its position in Reinsurance Group of America by 966.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after buying an additional 290,000 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Reinsurance Group of America by 33.5% in the third quarter. AQR Capital Management LLC now owns 709,359 shares of the insurance provider’s stock worth $102,992,000 after acquiring an additional 177,812 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Reinsurance Group of America by 7.3% in the third quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock worth $378,288,000 after acquiring an additional 177,299 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Reinsurance Group of America by 63.6% in the third quarter. Envestnet Asset Management Inc. now owns 347,114 shares of the insurance provider’s stock worth $50,397,000 after acquiring an additional 134,997 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Reinsurance Group of America by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock worth $1,067,264,000 after acquiring an additional 110,877 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock valued at $1,162,239 over the last ninety days. 1.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RGA has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Piper Sandler upped their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Royal Bank of Canada restated an “outperform” rating and set a $212.00 target price on shares of Reinsurance Group of America in a report on Friday, April 12th. Finally, Evercore ISI increased their target price on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $194.38.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $191.01 on Thursday. The stock has a market cap of $12.57 billion, a P/E ratio of 14.22 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. The company has a fifty day moving average price of $183.66 and a two-hundred day moving average price of $168.79. Reinsurance Group of America, Incorporated has a one year low of $133.13 and a one year high of $196.25.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.33. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The company’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.99 earnings per share. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s payout ratio is presently 25.32%.

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.