Principal Securities Inc. Cuts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Securities Inc. trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 49.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,933 shares of the insurance provider’s stock after selling 1,893 shares during the period. Principal Securities Inc.’s holdings in Reinsurance Group of America were worth $413,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RGA. Private Trust Co. NA raised its holdings in 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 worth $34,000 after purchasing an additional 120 shares during the period. Strengthening Families & Communities LLC bought a new position in Reinsurance Group of America in the 3rd quarter worth $36,000. Capital Performance Advisors LLP bought a new position in Reinsurance Group of America in the 3rd quarter worth $37,000. Spire Wealth Management raised its holdings in Reinsurance Group of America by 39.0% in the 4th 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. Finally, Versant Capital Management Inc increased its stake in 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 worth $62,000 after buying an additional 80 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $189.40 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The stock has a market capitalization of $12.47 billion, a P/E ratio of 17.63 and a beta of 0.93. The company has a 50 day moving average price of $214.91 and a 200 day moving average price of $216.13. Reinsurance Group of America, Incorporated has a fifty-two week low of $169.08 and a fifty-two week high of $233.81.

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 return on equity of 14.55% and a net margin of 3.24%. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.88%. Reinsurance Group of America’s payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RGA. Piper Sandler cut their price target 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. Wells Fargo & Company increased their price target on Reinsurance Group of America from $244.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays cut their price target on 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. Morgan Stanley cut their price target on 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.54.

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.