Retirement Systems of Alabama Sells 25,081 Shares of Reinsurance Group of America, Incorporated $RGA

by · The Cerbat Gem

Retirement Systems of Alabama cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 14.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 146,878 shares of the insurance provider’s stock after selling 25,081 shares during the quarter. Retirement Systems of Alabama’s holdings in Reinsurance Group of America were worth $36,167,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Balance Wealth Partners LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $30,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter worth approximately $38,000. Fortitude Family Office LLC boosted its stake in shares of Reinsurance Group of America by 62.7% during the 3rd quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 96 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Reinsurance Group of America during the 2nd quarter worth approximately $53,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $66,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $273.72 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $17.81 billion, a P/E ratio of 10.58 and a beta of 0.43. The firm has a 50-day moving average price of $256.14 and a two-hundred day moving average price of $227.08. Reinsurance Group of America, Incorporated has a twelve month low of $182.73 and a twelve month high of $275.70.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.97 by $1.52. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $6.69 billion. Reinsurance Group of America had a net margin of 6.26% and a return on equity of 16.18%. During the same quarter in the prior year, the firm earned $6.37 earnings per share. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, November 17th. Reinsurance Group of America’s payout ratio is currently 15.15%.

Analyst Ratings Changes

Several research firms recently weighed in on RGA. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, November 4th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price on the stock in a research report on Monday, September 28th. Finally, Barclays set a $292.00 target price on Reinsurance Group of America in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $278.62.

Check Out Our Latest Stock Analysis on Reinsurance Group of America

Reinsurance Group of America Company Profile

(Free Report)

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.

See Also

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