Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,717 shares of the insurance provider’s stock after selling 1,108 shares during the period. Hantz Financial Services Inc.’s holdings in Reinsurance Group of America were worth $2,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Reinsurance Group of America during the first quarter worth about $33,000. Atria Investments Inc purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at $2,660,000. Cetera Investment Advisers increased its stake in Reinsurance Group of America by 123.2% in the first quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock valued at $3,103,000 after purchasing an additional 8,881 shares during the last quarter. Cetera Advisors LLC lifted its position in Reinsurance Group of America by 85.2% during the first quarter. Cetera Advisors LLC now owns 4,147 shares of the insurance provider’s stock worth $800,000 after buying an additional 1,908 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Reinsurance Group of America by 5.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,089 shares of the insurance provider’s stock worth $1,171,000 after buying an additional 292 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of research analyst reports. Raymond James upped their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reduced their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler upped 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. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, 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 report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value 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 trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Down 0.5 %

NYSE:RGA opened at $228.40 on Friday. The stock has a 50-day simple moving average of $220.25 and a 200 day simple moving average of $213.73. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.81. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 20.97 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 (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.29 billion. During the same period in the previous year, the business earned $5.57 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.56%. Reinsurance Group of America’s payout ratio is currently 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.