Strs Ohio Grows Stock Position in Reinsurance Group of America, Incorporated $RGA

Strs Ohio lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 21.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,595 shares of the insurance provider’s stock after purchasing an additional 2,412 shares during the quarter. Strs Ohio’s holdings in Reinsurance Group of America were worth $2,697,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TCTC Holdings LLC raised its stake in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 121 shares during the period. Headlands Technologies LLC lifted its holdings in Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 175 shares during the period. SouthState Corp acquired a new stake in Reinsurance Group of America in the first quarter valued at $48,000. Finally, Oakworth Capital Inc. lifted its holdings in Reinsurance Group of America by 32.4% in the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $181.46 on Tuesday. 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 market capitalization of $11.99 billion, a price-to-earnings ratio of 15.75 and a beta of 0.60. The stock has a fifty day moving average of $191.25 and a two-hundred day moving average of $194.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.02 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.13 earnings per share. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, November 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.1%. Reinsurance Group of America’s payout ratio is 28.62%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their target price on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a report on Monday. 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.89.

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.