Foster & Motley Inc. Cuts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Foster & Motley Inc. lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,564 shares of the insurance provider’s stock after selling 336 shares during the quarter. Foster & Motley Inc.’s holdings in Reinsurance Group of America were worth $2,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Reinsurance Group of America by 8.9% during the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares during the period. Resonant Capital Advisors LLC boosted its position in Reinsurance Group of America by 1.2% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock valued at $952,000 after buying an additional 53 shares during the period. GHP Investment Advisors Inc. boosted its position in Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after buying an additional 62 shares during the period. Covestor Ltd grew its stake in Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 63 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Reinsurance Group of America by 3.0% during the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 69 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $227.70 on Thursday. Reinsurance Group of America, Incorporated has a fifty-two week low of $153.79 and a fifty-two week high of $227.87. 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 firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 20.91 and a beta of 0.92. The stock’s 50-day simple moving average is $215.96 and its 200-day simple moving average is $209.94.

Reinsurance Group of America (NYSE:RGA) last released 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. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. Reinsurance Group of America’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.57 EPS. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

RGA has been the subject of a number of research analyst reports. Barclays decreased their target price on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Piper Sandler increased 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 report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.38.

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.