Arjuna Capital Reduces Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Arjuna Capital lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 33.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,997 shares of the insurance provider’s stock after selling 7,411 shares during the quarter. Arjuna Capital’s holdings in Reinsurance Group of America were worth $3,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the third quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the first quarter valued at $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the second quarter valued at $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America during the second quarter valued at $29,000. Finally, LRI Investments LLC purchased a new position in Reinsurance Group of America during the first quarter valued at $33,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated 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 directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock traded up $0.75 during trading hours on Wednesday, reaching $229.61. 15,681 shares of the stock traded hands, compared to its average volume of 354,879. The company has a 50 day moving average price of $216.24 and a 200 day moving average price of $210.80. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 21.03 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $156.98 and a one year high of $230.86. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.57 EPS. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.55%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler raised their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays reduced their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Three research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.38.

Reinsurance Group of America 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.