Tidal Investments LLC Sells 811 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Tidal Investments LLC trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 16.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,051 shares of the insurance provider’s stock after selling 811 shares during the period. Tidal Investments LLC’s holdings in Reinsurance Group of America were worth $883,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America during the third quarter worth $25,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America during the 2nd quarter worth about $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC bought a new stake in Reinsurance Group of America in the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA raised its stake in Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Activity

In other 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 transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RGA shares. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective 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. Finally, TD Cowen assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price on the stock. Three 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 stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $207.54 on Friday. The stock has a 50 day moving average of $219.46 and a 200 day moving average of $214.17. The company has a market capitalization of $13.67 billion, a price-to-earnings ratio of 19.06 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 12 month low of $159.82 and a 12 month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.57 EPS. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

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.