Federated Hermes Inc. Sells 93,131 Shares of Reinsurance Group of America, Incorporated $RGA

Federated Hermes Inc. cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,111 shares of the insurance provider’s stock after selling 93,131 shares during the quarter. Federated Hermes Inc.’s holdings in Reinsurance Group of America were worth $69,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of RGA. Headlands Technologies LLC raised its position in shares of Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 175 shares during the period. SouthState Corp bought a new position in shares of Reinsurance Group of America in the first quarter worth $48,000. Oakworth Capital Inc. grew its position in shares of Reinsurance Group of America by 32.4% in the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 60 shares in the last quarter. IFP Advisors Inc grew its position in shares of Reinsurance Group of America by 93.9% in the second quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 138 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $57,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.2%

RGA stock opened at $193.01 on Monday. The company’s 50 day moving average is $190.10 and its 200 day moving average is $192.68. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 14.85 and a beta of 0.55. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $232.97.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.57. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.02 billion. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. Reinsurance Group of America’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $6.13 earnings per share. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, November 10th. Reinsurance Group of America’s dividend payout ratio is currently 28.62%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays restated an “overweight” rating and issued a $246.00 target price on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Raymond James Financial cut shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.89.

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.