Cornerstone Advisors Inc. lowered its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 19.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 489 shares of the insurance provider’s stock after selling 120 shares during the period. Cornerstone Advisors Inc.’s holdings in Reinsurance Group of America were worth $38,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $44,000. Parallel Advisors LLC raised its holdings in shares of Reinsurance Group of America by 27.6% in the 2nd quarter. Parallel Advisors LLC now owns 680 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 147 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Reinsurance Group of America by 20.0% in the 1st quarter. Signaturefd LLC now owns 654 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $69,000. Finally, Synovus Financial Corp raised its holdings in shares of Reinsurance Group of America by 29.8% in the 1st quarter. Synovus Financial Corp now owns 1,281 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 294 shares in the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

RGA opened at $85.25 on Friday. The stock’s 50 day simple moving average is $80.47 and its 200 day simple moving average is $104.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12. Reinsurance Group of America Inc has a 1 year low of $55.39 and a 1 year high of $169.26. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 6.93 and a beta of 1.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($1.22). Reinsurance Group of America had a return on equity of 7.19% and a net margin of 4.35%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the business earned $2.61 earnings per share. Reinsurance Group of America’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America Inc will post 5.37 EPS for the current year.

Several research firms have weighed in on RGA. UBS Group lowered their price target on Reinsurance Group of America from $136.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Piper Sandler decreased their price objective on Reinsurance Group of America from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $118.00 price objective on the stock in a report on Monday, April 13th. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Reinsurance Group of America from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Reinsurance Group of America currently has an average rating of “Hold” and an average target price of $113.25.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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