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

MainStreet Investment Advisors LLC lowered its position 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 SEC. The fund 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 filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Cordatus Wealth Management LLC boosted its stake in Reinsurance Group of America by 3.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider’s stock valued at $331,000 after purchasing an additional 50 shares during the period. Journey Strategic Wealth LLC raised its holdings in shares of Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock valued at $237,000 after buying an additional 56 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Reinsurance Group of America by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the last quarter. Oakworth Capital Inc. boosted its position in shares of Reinsurance Group of America by 32.4% during the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock worth $49,000 after buying an additional 60 shares during the period. Finally, Paulson Wealth Management Inc. grew its holdings in Reinsurance Group of America by 4.5% in the 2nd quarter. Paulson Wealth Management Inc. now owns 1,569 shares of the insurance provider’s stock worth $311,000 after buying an additional 67 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Trading Up 1.5%

Shares of Reinsurance Group of America stock opened at $186.83 on Wednesday. The business has a fifty day simple moving average of $189.95 and a 200-day simple moving average of $194.01. 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 $12.28 billion, a price-to-earnings ratio of 16.22 and a beta of 0.62. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping 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 firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business earned $6.13 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Analyst Ratings Changes

RGA has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lowered their price target on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Morgan Stanley cut their price objective 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 note 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. Finally, Barclays reissued an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.89.

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.