Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,901 shares of the insurance provider’s stock after selling 759 shares during the period. State of Tennessee Department of Treasury’s holdings in Reinsurance Group of America were worth $5,747,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Spire Wealth Management lifted its holdings in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $44,000. Versant Capital Management Inc grew its stake in shares of Reinsurance Group of America by 38.1% in the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after buying an additional 80 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after buying an additional 155 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Reinsurance Group of America during the 4th quarter worth approximately $70,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Evercore ISI dropped their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their target price on Reinsurance Group of America from $264.00 to $246.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley reduced their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.15.

Reinsurance Group of America Price Performance

RGA opened at $191.23 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $189.81 and its 200 day moving average price is $208.62. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 17.81 and a beta of 0.70.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

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.