Pzena Investment Management LLC Sells 2,137 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Pzena Investment Management LLC lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 47.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,320 shares of the insurance provider’s stock after selling 2,137 shares during the quarter. Pzena Investment Management LLC’s holdings in Reinsurance Group of America were worth $505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Earnest Partners LLC increased its stake in shares of Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after purchasing an additional 50,228 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after acquiring an additional 2,260,605 shares during the period. Sei Investments Co. grew its position in shares of Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after purchasing an additional 15,926 shares during the period. Finally, Zurich Insurance Group Ltd FI lifted its holdings in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on RGA shares. Morgan Stanley reduced their target price 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. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Raymond James boosted their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Piper Sandler upped their target price 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $226.98 on Thursday. Reinsurance Group of America, Incorporated has a 12-month low of $157.48 and a 12-month high of $233.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $218.07 and a two-hundred day simple moving average of $212.43. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 20.84 and a beta of 0.92.

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 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 for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the firm earned $5.57 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued 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 yield of 1.57%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In other 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 completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Company 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.