M&T Bank Corp Decreases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

M&T Bank Corp lessened its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,399 shares of the insurance provider’s stock after selling 758 shares during the period. M&T Bank Corp’s holdings in Reinsurance Group of America were worth $1,830,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RGA. WCM Investment Management LLC boosted its position in Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares during the period. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 133,212 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America during the third quarter valued at about $11,803,000. Finally, Earnest Partners LLC increased its holdings in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.4 %

Shares of RGA stock opened at $212.27 on Friday. The company has a market capitalization of $13.98 billion, a PE ratio of 19.49 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.81. The business’s fifty day moving average is $220.22 and its 200 day moving average is $214.28. 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 (NYSE:RGA) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $5.57 EPS. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.68%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RGA shares. JPMorgan Chase & Co. increased their target price on shares of 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. 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 research note on Wednesday, October 2nd. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Barclays lifted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Raymond James boosted their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Three 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. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

Reinsurance Group of America Company Profile

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.