Arjuna Capital Lowers Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Arjuna Capital cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 33.1% during the third quarter, Holdings Channel reports. The firm owned 14,997 shares of the insurance provider’s stock after selling 7,411 shares during the quarter. Arjuna Capital’s holdings in Reinsurance Group of America were worth $3,267,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after acquiring an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC increased its stake in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after acquiring an additional 133,212 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Reinsurance Group of America in the 1st quarter worth approximately $24,918,000. Finally, Earnest Partners LLC increased its stake in Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after acquiring an additional 104,256 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 0.3 %

Reinsurance Group of America stock traded up $0.75 during mid-day trading on Wednesday, hitting $229.61. The company’s stock had a trading volume of 15,681 shares, compared to its average volume of 354,879. The company has a 50 day moving average of $216.24 and a 200-day moving average of $210.80. The stock has a market cap of $15.12 billion, a PE ratio of 21.03 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a one year low of $156.98 and a one year high of $230.86.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the business earned $5.57 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler boosted 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. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.38.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.