Foster & Motley Inc. Reduces Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Foster & Motley Inc. decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.3% in the second quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock worth $1,729,000 after acquiring an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Reinsurance Group of America by 13.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider’s stock valued at $768,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC lifted its position in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock valued at $29,000 after buying an additional 92 shares during the period. Asset Management One Co. Ltd. lifted its position in Reinsurance Group of America by 1,265.2% during the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider’s stock valued at $1,290,000 after buying an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Reinsurance Group of America by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider’s stock valued at $33,984,000 after buying an additional 12,217 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

RGA has been the subject of several recent research reports. Raymond James Financial lowered Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.56.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $187.77 on Friday. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day moving average price of $191.66 and a 200-day moving average price of $193.05. The company has a market capitalization of $12.41 billion, a PE ratio of 16.30 and a beta of 0.60.

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

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio is 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.