Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 781,053 shares of the insurance provider’s stock after selling 40,058 shares during the period. Dimensional Fund Advisors LP owned approximately 1.19% of Reinsurance Group of America worth $160,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the 2nd quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in shares of Reinsurance Group of America in the 2nd quarter valued at $29,000. New Covenant Trust Company N.A. acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at $28,000. Rise Advisors LLC acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at $29,000. Finally, LRI Investments LLC acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at $33,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $219.62 on Friday. Reinsurance Group of America, Incorporated has a 52-week low of $140.39 and a 52-week high of $227.87. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.06 and a beta of 0.91. The company has a fifty day simple moving average of $212.96 and a 200-day simple moving average of $203.22. 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 released its 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 net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm earned $4.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Analyst Upgrades and Downgrades

RGA has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group upped their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Evercore ISI upped their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.33.

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.