Massachusetts Financial Services Co. MA Sells 22,576 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,342 shares of the insurance provider’s stock after selling 22,576 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Reinsurance Group of America were worth $30,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings in Reinsurance Group of America by 105.3% during the third quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider’s stock worth $68,000 after buying an additional 160 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Reinsurance Group of America during the third quarter worth $11,803,000. Tranquility Partners LLC purchased a new stake in Reinsurance Group of America during the third quarter worth $200,000. Caprock Group LLC purchased a new stake in Reinsurance Group of America during the third quarter worth $238,000. Finally, Pathstone Holdings LLC lifted its holdings in Reinsurance Group of America by 2.5% during the third quarter. Pathstone Holdings LLC now owns 25,052 shares of the insurance provider’s stock worth $5,458,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RGA. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Piper Sandler increased their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley decreased their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Three research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.77.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $231.43 on Tuesday. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day moving average of $219.35 and a 200 day moving average of $213.14. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $5.57 EPS. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business 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 dividend of $0.89 per share. 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 dividend payout ratio is currently 32.69%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is owned by insiders.

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.