Allspring Global Investments Holdings LLC Lowers Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Allspring Global Investments Holdings LLC cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,126 shares of the insurance provider’s stock after selling 43,000 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Reinsurance Group of America worth $23,964,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 129,207.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock valued at $1,721,766,000 after acquiring an additional 12,108,062 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Reinsurance Group of America by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock valued at $1,067,264,000 after acquiring an additional 110,877 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Reinsurance Group of America by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock valued at $378,288,000 after acquiring an additional 177,299 shares in the last quarter. State Street Corp lifted its holdings in shares of Reinsurance Group of America by 4.7% during the 1st quarter. State Street Corp now owns 2,411,086 shares of the insurance provider’s stock valued at $263,917,000 after acquiring an additional 108,922 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Reinsurance Group of America by 2.7% during the 3rd quarter. Earnest Partners LLC now owns 2,371,076 shares of the insurance provider’s stock valued at $344,257,000 after acquiring an additional 62,045 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the sale, the executive vice president now owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares in the company, valued at approximately $9,061,521.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the transaction, the executive vice president now owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock valued at $1,162,239 in the last quarter. Insiders own 1.31% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $184.38 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America, Incorporated has a fifty-two week low of $133.13 and a fifty-two week high of $196.25. The firm has a 50-day simple moving average of $180.89 and a 200 day simple moving average of $166.50. The company has a market cap of $12.12 billion, a PE ratio of 13.73 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $2.99 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 19.46 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio is presently 25.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RGA. Keefe, Bruyette & Woods boosted their price objective on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Piper Sandler boosted their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.23.

Reinsurance Group of America Company 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.