Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,900 shares of the insurance provider’s stock after selling 229 shares during the quarter. Foster & Motley Inc.’s holdings in Reinsurance Group of America were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Meeder Asset Management Inc. acquired a new position in Reinsurance Group of America during the first quarter worth $675,000. Price T Rowe Associates Inc. MD grew its stake in shares of Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after purchasing an additional 26,306 shares during the period. Junto Capital Management LP purchased a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $92,083,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 2,524 shares during the period. Finally, Dean Capital Management boosted its holdings in Reinsurance Group of America by 19.4% during the fourth quarter. Dean Capital Management now owns 10,086 shares of the insurance provider’s stock worth $1,632,000 after buying an additional 1,636 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Raymond James raised their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. UBS Group increased their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Citigroup upped their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Price Performance

RGA stock opened at $216.44 on Friday. The stock has a market capitalization of $14.25 billion, a price-to-earnings ratio of 16.82 and a beta of 0.91. The stock’s fifty day simple moving average is $211.26 and its 200-day simple moving average is $200.07. Reinsurance Group of America, Incorporated has a 52-week low of $136.04 and a 52-week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company earned $4.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

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.