Reinsurance Group of America, Incorporated $RGA Holdings Cut by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,878 shares of the insurance provider’s stock after selling 25,081 shares during the period. Retirement Systems of Alabama owned approximately 0.22% of Reinsurance Group of America worth $36,167,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its holdings in shares of Reinsurance Group of America by 26.8% in the second quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock valued at $5,363,000 after purchasing an additional 5,331 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Reinsurance Group of America during the second quarter worth approximately $1,489,000. Assenagon Asset Management S.A. purchased a new stake in shares of Reinsurance Group of America during the third quarter worth approximately $30,927,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 77.6% during the second quarter. Sequoia Financial Advisors LLC now owns 11,716 shares of the insurance provider’s stock worth $2,491,000 after purchasing an additional 5,118 shares during the period. Finally, WCM Investment Management LLC lifted its holdings in shares of Reinsurance Group of America by 3.0% during the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after purchasing an additional 82,681 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $273.72 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $256.14 and its two-hundred day moving average is $227.08. Reinsurance Group of America, Incorporated has a 12-month low of $182.73 and a 12-month high of $275.70. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 10.58 and a beta of 0.43.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, November 5th. The insurance provider reported $8.49 EPS for the quarter, beating the consensus estimate of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $6.69 billion. During the same period last year, the firm earned $6.37 EPS. Research analysts expect that Reinsurance Group of America, Incorporated will post 29.78 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, December 1st. Shareholders of record on Tuesday, November 17th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.92 dividend on an annualized basis and a yield of 1.4%. Reinsurance Group of America’s dividend payout ratio (DPR) is 15.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Reinsurance Group of America from $274.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Barclays set a $292.00 target price on shares of Reinsurance Group of America in a research note on Thursday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $278.62.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.