Foster & Motley Inc. trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,846 shares of the insurance provider’s stock after selling 699 shares during the period. Foster & Motley Inc.’s holdings in Reinsurance Group of America were worth $1,358,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of RGA. GAMMA Investing LLC increased its position in shares of Reinsurance Group of America by 179.5% in the first quarter. GAMMA Investing LLC now owns 2,412 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 1,549 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Reinsurance Group of America in the first quarter worth approximately $415,000. Wealth Enhancement Advisory Services LLC grew its position in Reinsurance Group of America by 38.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock valued at $1,729,000 after acquiring an additional 2,428 shares during the last quarter. State of Alaska Department of Revenue grew its position in Reinsurance Group of America by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 12,118 shares of the insurance provider’s stock valued at $2,385,000 after acquiring an additional 205 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Reinsurance Group of America by 28.3% during the first quarter. Blue Trust Inc. now owns 3,984 shares of the insurance provider’s stock valued at $784,000 after acquiring an additional 878 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
RGA has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. 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 on the stock in a research report on Monday, August 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Barclays reiterated 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 reiterated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.56.
Reinsurance Group of America Stock Performance
NYSE:RGA opened at $187.77 on Friday. The firm has a market cap of $12.41 billion, a PE ratio of 16.30 and a beta of 0.60. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50 day moving average price of $191.66 and a 200-day moving average price of $193.05.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $5.48 EPS. Equities 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. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America’s payout ratio is currently 32.29%.
Reinsurance Group of America 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.
Recommended Stories
- Five stocks we like better than Reinsurance Group of America
- Stock Splits, Do They Really Impact Investors?
- Johnson & Johnson’s M&A Strategy Is the Real Story for Investors
- Find and Profitably Trade Stocks at 52-Week Lows
- Tesla: Some Analysts Are Calling for A 30% Drop—Time to Panic?
- Conference Calls and Individual Investors
- Hedge Funds Flip on the Dollar—A Buy Signal for These 3 Stocks?
Receive News & Ratings for Reinsurance Group of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America and related companies with MarketBeat.com's FREE daily email newsletter.