Merit Financial Group LLC Sells 2,565 Shares of Reinsurance Group of America, Incorporated $RGA

Merit Financial Group LLC cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 37.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,351 shares of the insurance provider’s stock after selling 2,565 shares during the period. Merit Financial Group LLC’s holdings in Reinsurance Group of America were worth $836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Reinsurance Group of America during the 2nd quarter worth $167,955,000. Orion Porfolio Solutions LLC increased its holdings in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after acquiring an additional 592,748 shares in the last quarter. Laurel Wealth Advisors LLC raised its position in shares of Reinsurance Group of America by 19,387.3% during the second quarter. Laurel Wealth Advisors LLC now owns 561,818 shares of the insurance provider’s stock worth $111,442,000 after purchasing an additional 558,935 shares during the period. American Century Companies Inc. lifted its holdings in shares of Reinsurance Group of America by 35.2% during the 2nd quarter. American Century Companies Inc. now owns 2,044,818 shares of the insurance provider’s stock valued at $405,610,000 after purchasing an additional 532,891 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Reinsurance Group of America by 534.1% in the 2nd quarter. Nordea Investment Management AB now owns 570,386 shares of the insurance provider’s stock valued at $112,828,000 after purchasing an additional 480,435 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RGA. Morgan Stanley set a $208.00 price target on shares of Reinsurance Group of America in a research note on Monday, December 15th. Keefe, Bruyette & Woods cut their price objective on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Piper Sandler increased their target price on Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Barclays reissued an “overweight” rating and issued a $246.00 price target on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Finally, Raymond James Financial cut Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Reinsurance Group of America Trading Down 0.4%

Shares of NYSE:RGA opened at $201.20 on Thursday. The company’s 50-day moving average price is $195.10 and its two-hundred day moving average price is $193.11. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $232.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $13.22 billion, a PE ratio of 15.48 and a beta of 0.55.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.19% and a net margin of 3.89%.The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the company earned $6.13 EPS. Reinsurance Group of America’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America’s payout ratio is 28.62%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.