Reinsurance Group of America, Incorporated $RGA Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,969 shares of the insurance provider’s stock after selling 6,648 shares during the period. First Trust Advisors LP’s holdings in Reinsurance Group of America were worth $67,635,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings in Reinsurance Group of America by 357.1% during the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after buying an additional 175 shares during the last quarter. SouthState Corp acquired a new stake in shares of Reinsurance Group of America during the first quarter worth $48,000. Oakworth Capital Inc. lifted its position in shares of Reinsurance Group of America by 32.4% in the 2nd quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock worth $49,000 after buying an additional 60 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Reinsurance Group of America by 93.9% in the 2nd quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock valued at $57,000 after buying an additional 138 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at about $57,000. 95.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RGA. Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Raymond James Financial downgraded Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods reduced their price objective on 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. Barclays reaffirmed an “overweight” rating and issued a $246.00 target price on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Morgan Stanley cut their target price on 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. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $239.89.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $193.01 on Monday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $232.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 14.85 and a beta of 0.55. The business has a 50 day simple moving average of $190.10 and a 200 day simple moving average of $192.68.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.19% and a net margin of 3.89%.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 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

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

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.