Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC reduced its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,834 shares of the insurance provider’s stock after selling 97 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Reinsurance Group of America were worth $819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RGA. Colonial Trust Co SC boosted its position in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 57 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $44,000. Private Trust Co. NA lifted its holdings in shares of Reinsurance Group of America by 99.4% in the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after purchasing an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $70,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 0.5%

RGA opened at $206.63 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $189.64 and a two-hundred day moving average price of $206.91. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The company has a market cap of $13.66 billion, a PE ratio of 19.24 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the previous year, the firm posted $6.02 EPS. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced 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. This represents a $3.56 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, May 13th. Reinsurance Group of America’s payout ratio is 30.04%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RGA. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $246.00 to $248.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. UBS Group reissued a “neutral” rating and issued a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Evercore ISI reduced their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.69.

About Reinsurance Group of America

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.