Sumitomo Mitsui Trust Holdings Inc. Acquires 1,650 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,620 shares of the insurance provider’s stock after purchasing an additional 1,650 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reinsurance Group of America were worth $3,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RGA. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter worth about $122,301,000. Junto Capital Management LP bought a new stake in Reinsurance Group of America during the fourth quarter worth about $92,083,000. Balyasny Asset Management L.P. bought a new stake in Reinsurance Group of America during the fourth quarter worth about $67,177,000. Corient Private Wealth LLC lifted its position in Reinsurance Group of America by 1,965.4% during the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after purchasing an additional 283,907 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Reinsurance Group of America by 713.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock worth $47,098,000 after purchasing an additional 255,326 shares during the period. Institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Reinsurance Group of America in a research report on Friday, June 14th. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler increased their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, UBS Group increased their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.45.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $210.82 on Thursday. The business has a 50 day moving average of $206.20 and a 200-day moving average of $187.35. Reinsurance Group of America, Incorporated has a 1 year low of $135.07 and a 1 year high of $213.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $13.87 billion, a P/E ratio of 16.38 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter in the prior year, the firm posted $5.16 EPS. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 20.94 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

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.