PNC Financial Services Group Inc. Acquires 5,500 Shares of Reinsurance Group of America, Incorporated $RGA

PNC Financial Services Group Inc. boosted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 34.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,293 shares of the insurance provider’s stock after acquiring an additional 5,500 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Reinsurance Group of America were worth $4,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Orion Porfolio Solutions LLC raised its stake in Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock valued at $119,512,000 after buying an additional 592,748 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Reinsurance Group of America during the 2nd quarter valued at $69,426,000. American Century Companies Inc. raised its stake in Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after buying an additional 324,239 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Reinsurance Group of America during the 3rd quarter valued at $35,266,000. Finally, AQR Capital Management LLC raised its stake in Reinsurance Group of America by 29.6% during the 2nd quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after buying an additional 182,729 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Down 0.2%

NYSE:RGA opened at $213.71 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.58 and a beta of 0.50. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $229.21. The business has a fifty day moving average price of $207.86 and a 200-day moving average price of $204.21.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.66 EPS. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 26.79 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.7%. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD Cowen reiterated a “hold” rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Finally, Evercore reiterated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company’s stock, valued at $829,264.04. This represents a 64.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

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.