Cambiar Investors LLC Cuts Stock Position in Reinsurance Group of America, Incorporated $RGA

Cambiar Investors LLC cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 37.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,049 shares of the insurance provider’s stock after selling 21,351 shares during the quarter. Cambiar Investors LLC’s holdings in Reinsurance Group of America were worth $6,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Algebris UK Ltd. purchased a new stake in Reinsurance Group of America during the third quarter worth about $10,750,000. Keynote Financial Services LLC increased its stake in shares of Reinsurance Group of America by 84.7% during the 3rd quarter. Keynote Financial Services LLC now owns 1,954 shares of the insurance provider’s stock worth $375,000 after purchasing an additional 896 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Reinsurance Group of America by 7.5% in the 3rd quarter. Retirement Systems of Alabama now owns 197,412 shares of the insurance provider’s stock worth $37,929,000 after purchasing an additional 13,840 shares during the period. First Citizens Bank & Trust Co. lifted its stake in Reinsurance Group of America by 5.2% in the third quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the insurance provider’s stock valued at $1,243,000 after purchasing an additional 322 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Reinsurance Group of America by 94.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock valued at $3,555,000 after purchasing an additional 8,971 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Trading Down 1.0%

Shares of Reinsurance Group of America stock opened at $196.64 on Wednesday. The company’s 50-day moving average price is $197.89 and its 200-day moving average price is $193.10. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $232.97. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 15.13 and a beta of 0.55.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the company earned $6.13 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on RGA shares. Morgan Stanley set a $208.00 target price on Reinsurance Group of America in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. Piper Sandler increased their target price on shares of Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $237.00 to $238.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Barclays set a $237.00 price objective on shares of Reinsurance Group of America in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.67.

Reinsurance Group of America 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.