Foster & Motley Inc. Sells 336 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Foster & Motley Inc. cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,564 shares of the insurance provider’s stock after selling 336 shares during the quarter. Foster & Motley Inc.’s holdings in Reinsurance Group of America were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Armstrong Advisory Group Inc. bought a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the second quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Reinsurance Group of America in the 1st quarter worth approximately $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on RGA shares. Citigroup lifted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Piper Sandler upped their price target on shares of 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. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, TD Cowen initiated coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Price Performance

NYSE RGA opened at $227.70 on Thursday. The company has a 50-day moving average price of $215.96 and a 200-day moving average price of $209.94. Reinsurance Group of America, Incorporated has a 52 week low of $153.79 and a 52 week high of $227.87. 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 firm has a market capitalization of $15.00 billion, a P/E ratio of 20.91 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its 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 company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $5.57 EPS. Reinsurance Group of America’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

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 given a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.56%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

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.