ProShare Advisors LLC Cuts Holdings in Reinsurance Group of America, Incorporated $RGA

ProShare Advisors LLC trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 176,173 shares of the insurance provider’s stock after selling 5,989 shares during the quarter. ProShare Advisors LLC’s holdings in Reinsurance Group of America were worth $35,844,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RGA. Millstone Evans Group LLC boosted its stake in Reinsurance Group of America by 82.4% during the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Activest Wealth Management purchased a new stake in Reinsurance Group of America during the 4th quarter valued at $30,000. Root Financial Partners LLC purchased a new stake in Reinsurance Group of America during the 3rd quarter valued at $33,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth $35,000. Finally, Advisory Services Network LLC purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth $38,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RGA. Barclays raised their price target on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Evercore reissued an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Piper Sandler reduced their target price on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Insider Buying and Selling

In related news, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Reinsurance Group of America Stock Down 2.3%

Shares of NYSE:RGA opened at $210.12 on Wednesday. The business has a 50 day simple moving average of $207.21 and a two-hundred day simple moving average of $203.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $229.21. The firm has a market capitalization of $13.76 billion, a PE ratio of 11.38 and a beta of 0.50.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the previous year, the firm posted $5.66 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 26.39 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Reinsurance Group of America’s payout ratio is currently 20.15%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.