FIL Ltd Sells 199,727 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

FIL Ltd lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 451,430 shares of the insurance provider’s stock after selling 199,727 shares during the period. FIL Ltd owned approximately 0.69% of Reinsurance Group of America worth $96,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Reinsurance Group of America by 34.4% during the 4th quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider’s stock valued at $201,802,000 after purchasing an additional 241,669 shares in the last quarter. FMR LLC lifted its holdings in shares of Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after purchasing an additional 564,693 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Reinsurance Group of America by 4.3% during the 4th quarter. Federated Hermes Inc. now owns 449,638 shares of the insurance provider’s stock valued at $96,056,000 after purchasing an additional 18,412 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Reinsurance Group of America by 16.7% during the 4th quarter. Russell Investments Group Ltd. now owns 272,742 shares of the insurance provider’s stock valued at $58,266,000 after purchasing an additional 39,095 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Reinsurance Group of America by 5.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 493,596 shares of the insurance provider’s stock valued at $105,447,000 after purchasing an additional 26,151 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RGA. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods cut their target price on Reinsurance Group of America from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler cut their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group restated a “neutral” rating and issued a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Finally, Barclays cut their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $231.54.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $181.74 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The stock’s fifty day moving average price is $196.00 and its two-hundred day moving average price is $211.15. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 16.92 and a beta of 0.70.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.96%. Reinsurance Group of America’s payout ratio is 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.