Prana Capital Management LP Sells 28,267 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Prana Capital Management LP lowered its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,243 shares of the insurance provider’s stock after selling 28,267 shares during the period. Reinsurance Group of America makes up 1.6% of Prana Capital Management LP’s investment portfolio, making the stock its 19th largest holding. Prana Capital Management LP owned about 0.24% of Reinsurance Group of America worth $33,378,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RGA. Barclays PLC boosted its stake in Reinsurance Group of America by 5.5% during the third quarter. Barclays PLC now owns 102,790 shares of the insurance provider’s stock worth $22,396,000 after acquiring an additional 5,398 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Reinsurance Group of America by 9.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,419 shares of the insurance provider’s stock worth $1,181,000 after buying an additional 447 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Reinsurance Group of America in the fourth quarter worth approximately $8,869,000. Park Avenue Securities LLC lifted its stake in shares of Reinsurance Group of America by 21.2% in the fourth quarter. Park Avenue Securities LLC now owns 15,744 shares of the insurance provider’s stock worth $3,363,000 after buying an additional 2,759 shares in the last quarter. Finally, Occidental Asset Management LLC raised its holdings in shares of Reinsurance Group of America by 9.6% during the fourth quarter. Occidental Asset Management LLC now owns 6,531 shares of the insurance provider’s stock valued at $1,395,000 after purchasing an additional 571 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $204.43 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The firm has a fifty day moving average price of $189.92 and a 200 day moving average price of $206.90. 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 $13.51 billion, a price-to-earnings ratio of 19.03 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The firm had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the prior year, the business earned $6.02 earnings per share. Reinsurance Group of America’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.89 per share. The ex-dividend date is Tuesday, May 13th. This represents a $3.56 annualized dividend and a yield of 1.74%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 30.04%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RGA. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. UBS Group reissued a “neutral” rating and issued a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Finally, Evercore ISI reduced their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Three investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.69.

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.