Allspring Global Investments Holdings LLC Buys 7,893 Shares of Reinsurance Group of America, Incorporated $RGA

Allspring Global Investments Holdings LLC raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 179,295 shares of the insurance provider’s stock after acquiring an additional 7,893 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of Reinsurance Group of America worth $35,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RGA. American Century Companies Inc. lifted its stake in Reinsurance Group of America by 67.9% during the 1st quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider’s stock valued at $297,699,000 after acquiring an additional 611,226 shares during the period. Nuveen LLC bought a new position in Reinsurance Group of America during the 1st quarter valued at about $69,092,000. Bahl & Gaynor Inc. purchased a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $55,375,000. AQR Capital Management LLC increased its position in shares of Reinsurance Group of America by 66.5% during the 1st quarter. AQR Capital Management LLC now owns 616,946 shares of the insurance provider’s stock valued at $119,687,000 after purchasing an additional 246,361 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Reinsurance Group of America by 17.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,998 shares of the insurance provider’s stock valued at $182,909,000 after purchasing an additional 137,620 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 2.5%

Reinsurance Group of America stock opened at $192.05 on Thursday. The firm has a 50 day moving average of $191.51 and a 200 day moving average of $193.23. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 16.67 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.48 earnings per share. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. Reinsurance Group of America’s payout ratio is 32.29%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RGA. Wells Fargo & Company reduced their price target on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Morgan Stanley reduced their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and set a $246.00 price target on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $241.56.

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.