Reinsurance Group of America, Incorporated $RGA Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 38.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,430 shares of the insurance provider’s stock after selling 1,497 shares during the period. MainStreet Investment Advisors LLC’s holdings in Reinsurance Group of America were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Intech Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 36.6% in the second quarter. Intech Investment Management LLC now owns 60,533 shares of the insurance provider’s stock worth $12,007,000 after acquiring an additional 16,225 shares in the last quarter. Cetera Investment Advisers increased its holdings in Reinsurance Group of America by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 29,127 shares of the insurance provider’s stock worth $5,778,000 after purchasing an additional 911 shares during the last quarter. Creative Planning raised its position in shares of Reinsurance Group of America by 13.4% in the 2nd quarter. Creative Planning now owns 11,929 shares of the insurance provider’s stock valued at $2,366,000 after purchasing an additional 1,409 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Reinsurance Group of America by 5,813.8% in the 2nd quarter. SG Americas Securities LLC now owns 124,781 shares of the insurance provider’s stock valued at $24,752,000 after purchasing an additional 122,671 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Reinsurance Group of America by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,979 shares of the insurance provider’s stock valued at $3,368,000 after buying an additional 1,233 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RGA has been the subject of a number of research analyst reports. Wells Fargo & Company dropped 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 note on Monday, August 4th. Barclays reissued an “overweight” rating and set a $246.00 price objective on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their target price on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Finally, Raymond James Financial downgraded Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Stock Up 1.5%

RGA stock opened at $186.83 on Wednesday. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 16.22 and a beta of 0.62. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The firm has a fifty day moving average price of $189.95 and a two-hundred day moving average price of $194.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business posted $6.13 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, November 10th. Reinsurance Group of America’s payout ratio is presently 28.62%.

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.