Sumitomo Mitsui Trust Group Inc. Sells 2,411 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.8% during the 3rd quarter, Holdings Channel reports. The fund owned 17,992 shares of the insurance provider’s stock after selling 2,411 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Reinsurance Group of America were worth $3,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its stake in Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 2,524 shares during the last quarter. Covestor Ltd lifted its position in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 63 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Reinsurance Group of America by 4.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 41,936 shares of the insurance provider’s stock valued at $8,089,000 after acquiring an additional 1,701 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Reinsurance Group of America by 1.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,454 shares of the insurance provider’s stock valued at $9,919,000 after acquiring an additional 779 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new position in shares of Reinsurance Group of America during the first quarter worth $236,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $231.72 on Tuesday. Reinsurance Group of America, Incorporated has a 52 week low of $157.45 and a 52 week 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 stock has a market capitalization of $15.26 billion, a PE ratio of 21.30 and a beta of 0.92. The stock’s 50-day moving average price is $217.33 and its 200-day moving average price is $211.96.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $5.57 EPS. Reinsurance Group of America’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Buying and Selling

In related 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 value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

RGA has been the subject of several analyst reports. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Piper Sandler raised 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. Citigroup raised their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays reduced their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus 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.