Corebridge Financial Inc. Has $15.92 Million Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Corebridge Financial Inc. trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,526 shares of the insurance provider’s stock after selling 3,353 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Reinsurance Group of America worth $15,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RGA. Private Trust Co. NA raised its stake in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after buying an additional 120 shares in the last quarter. Spire Wealth Management lifted its stake in Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 57 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Reinsurance Group of America during the fourth quarter valued at approximately $44,000. Versant Capital Management Inc grew its stake in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 80 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of Reinsurance Group of America by 105.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider’s stock worth $68,000 after buying an additional 160 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 3.5 %

Shares of RGA opened at $198.54 on Tuesday. The stock’s fifty day simple moving average is $206.73 and its 200-day simple moving average is $213.86. The firm has a market capitalization of $13.11 billion, a PE ratio of 18.49 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12-month low of $178.84 and a 12-month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Analyst Ratings Changes

Several research analysts have issued reports on RGA shares. Piper Sandler dropped their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. 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. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Barclays decreased their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $231.85.

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.