Truist Financial Corp Decreases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Truist Financial Corp reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,007 shares of the insurance provider’s stock after selling 131 shares during the period. Truist Financial Corp’s holdings in Reinsurance Group of America were worth $2,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. WCM Investment Management LLC boosted its position in shares of Reinsurance Group of America by 1.4% in the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after buying an additional 33,082 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Reinsurance Group of America by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after buying an additional 18,162 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Reinsurance Group of America by 8.2% in the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after buying an additional 27,931 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after purchasing an additional 117,829 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in Reinsurance Group of America by 0.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 209,683 shares of the insurance provider’s stock valued at $45,683,000 after purchasing an additional 649 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RGA has been the subject of several analyst reports. Barclays cut their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Morgan Stanley cut their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.62.

Reinsurance Group of America Stock Down 0.2 %

RGA opened at $199.31 on Thursday. The firm has a 50 day moving average price of $214.44 and a 200 day moving average price of $216.23. The company has a market cap of $13.16 billion, a PE ratio of 18.56 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 1 year low of $171.84 and a 1 year high of $233.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15.

Reinsurance Group of America (NYSE:RGA) last posted 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 return on equity of 14.55% and a net margin of 3.24%. Sell-side analysts expect 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 will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given 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 is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

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.