Allspring Global Investments Holdings LLC Has $11.66 Million Holdings in Reinsurance Group of America, Incorporated $RGA

Allspring Global Investments Holdings LLC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,085 shares of the insurance provider’s stock after acquiring an additional 2,710 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Reinsurance Group of America were worth $11,660,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Goldman Sachs Group Inc. boosted its position in shares of Reinsurance Group of America by 44.3% in the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after buying an additional 67,880 shares during the period. Focus Partners Wealth lifted its position in Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after buying an additional 1,466 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $1,006,000. Finally, Cerity Partners LLC grew its stake in Reinsurance Group of America by 15.5% in the second quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $235.26 on Thursday. Reinsurance Group of America, Incorporated has a 1-year low of $165.52 and a 1-year high of $245.00. The firm has a market capitalization of $15.41 billion, a PE ratio of 12.74 and a beta of 0.47. The business’s 50 day moving average is $215.73 and its 200-day moving average is $210.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.66 earnings per share. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America’s payout ratio is presently 20.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays boosted their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, UBS Group boosted their price objective on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $255.00.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.