Franklin Resources Inc. Lowers Holdings in Reinsurance Group of America, Incorporated $RGA

Franklin Resources Inc. reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,485 shares of the insurance provider’s stock after selling 830 shares during the period. Franklin Resources Inc.’s holdings in Reinsurance Group of America were worth $5,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its position in Reinsurance Group of America by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after buying an additional 58 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Reinsurance Group of America by 32.4% during the 2nd quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 60 shares during the last quarter. Paulson Wealth Management Inc. grew its holdings in shares of Reinsurance Group of America by 4.5% during the second quarter. Paulson Wealth Management Inc. now owns 1,569 shares of the insurance provider’s stock worth $311,000 after purchasing an additional 67 shares in the last quarter. Wedmont Private Capital increased its position in shares of Reinsurance Group of America by 4.3% in the second quarter. Wedmont Private Capital now owns 2,218 shares of the insurance provider’s stock worth $433,000 after purchasing an additional 92 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Reinsurance Group of America by 14.6% in the second quarter. Signaturefd LLC now owns 723 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $189.87 on Monday. The firm has a fifty day simple moving average of $189.80 and a two-hundred day simple moving average of $193.21. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $232.97. The company has a market capitalization of $12.48 billion, a PE ratio of 16.48 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the business earned $6.13 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a $0.93 dividend. The ex-dividend date was Monday, November 10th. This represents a $3.72 annualized dividend and a yield of 2.0%. Reinsurance Group of America’s payout ratio is presently 28.62%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RGA shares. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Company 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.