Dana Investment Advisors Inc. Sells 6,161 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Dana Investment Advisors Inc. lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,645 shares of the insurance provider’s stock after selling 6,161 shares during the period. Reinsurance Group of America makes up 0.7% of Dana Investment Advisors Inc.’s portfolio, making the stock its 27th biggest position. Dana Investment Advisors Inc. owned approximately 0.15% of Reinsurance Group of America worth $20,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in Reinsurance Group of America during the 1st quarter worth approximately $675,000. Price T Rowe Associates Inc. MD boosted its position in shares of Reinsurance Group of America by 22.5% during the first 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 in the last quarter. Junto Capital Management LP bought a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $92,083,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Reinsurance Group of America by 50.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after buying an additional 2,524 shares during the period. Finally, Dean Capital Management lifted 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 acquiring an additional 1,636 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $217.87 on Tuesday. The company has a market cap of $14.33 billion, a PE ratio of 16.93 and a beta of 0.91. The firm has a 50-day moving average of $213.44 and a 200-day moving average of $205.00. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share 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 the consensus estimate of $5.07 billion. During the same quarter in the previous year, the business earned $4.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.63%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s payout ratio is 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the subject of several recent analyst reports. Barclays began coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price target for the company. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley lowered their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.17.

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.