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

PNC Financial Services Group Inc. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,246 shares of the insurance provider’s stock after selling 586 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Reinsurance Group of America were worth $3,757,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Reinsurance Group of America by 8.9% in the 3rd 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 last quarter. Resonant Capital Advisors LLC lifted its stake in Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after purchasing an additional 53 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Reinsurance Group of America by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after buying an additional 62 shares during the period. Baron Wealth Management LLC increased its position in Reinsurance Group of America by 4.5% during the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after buying an additional 64 shares during the period. Finally, Tectonic Advisors LLC increased its holdings in shares of Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock valued at $514,000 after purchasing an additional 69 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $230.70 on Monday. The firm has a market capitalization of $15.19 billion, a P/E ratio of 21.18 and a beta of 0.92. The stock has a fifty day moving average price of $219.09 and a 200 day moving average price of $212.96. Reinsurance Group of America, Incorporated has a 52 week low of $157.48 and a 52 week high of $233.14. 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 quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. The company 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 firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.57 earnings per share. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s dividend payout ratio is presently 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 completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler boosted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

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.