Ontario Teachers Pension Plan Board Has $395,000 Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Ontario Teachers Pension Plan Board lessened its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 25.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,813 shares of the insurance provider’s stock after selling 604 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Reinsurance Group of America were worth $395,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of RGA. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Zurich Insurance Group Ltd FI grew its holdings in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after buying an additional 442,883 shares during the last quarter. Millennium Management LLC increased its position in shares of Reinsurance Group of America by 43.8% during the second 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 in the last quarter. Earnest Partners LLC raised its holdings in shares of 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. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America in the 3rd quarter valued at about $11,803,000. Institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on RGA shares. Piper Sandler increased their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price target on 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. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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 report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity at Reinsurance Group of America

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

Reinsurance Group of America Stock Performance

Shares of RGA opened at $230.74 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year 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. The stock’s fifty day moving average price is $219.09 and its two-hundred day moving average price is $212.85. The firm has a market cap of $15.20 billion, a PE ratio of 21.19 and a beta of 0.92.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.57 EPS. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 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.