Truist Financial Corp Has $2.62 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Truist Financial Corp cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,212 shares of the insurance provider’s stock after selling 3,566 shares during the period. Truist Financial Corp’s holdings in Reinsurance Group of America were worth $2,623,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Lindbrook Capital LLC increased its position in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 114 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Covestor Ltd lifted its stake in Reinsurance Group of America by 532.8% in the third quarter. Covestor Ltd now owns 424 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 357 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $72,000. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RGA shares. Piper Sandler raised their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Evercore ISI raised their price objective on Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their target price on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, UBS Group lifted their price objective on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.00.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $207.74 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 16.14 and a beta of 0.88. Reinsurance Group of America, Incorporated has a 52 week low of $135.07 and a 52 week high of $208.39. The firm’s 50-day simple moving average is $188.33 and its 200 day simple moving average is $172.07.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping the consensus estimate of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $5.16 earnings per share. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 19.41 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.64%. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Transactions at Reinsurance Group of America

In related news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares in the company, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,462 shares of company stock valued at $1,162,239. 1.37% of the stock is 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.