Allspring Global Investments Holdings LLC Has $44.90 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Allspring Global Investments Holdings LLC grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 57.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 232,773 shares of the insurance provider’s stock after acquiring an additional 84,647 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Reinsurance Group of America were worth $44,897,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Reinsurance Group of America during the first quarter worth $29,000. Lindbrook Capital LLC lifted its position in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth $26,000. VisionPoint Advisory Group LLC boosted its stake in Reinsurance Group of America by 116.3% in the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after buying an additional 114 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its position in Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the transaction, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RGA shares. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 price target on shares of Reinsurance Group of America in a research note on Friday, June 14th. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods upped their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $195.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Raymond James upped their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.18.

Reinsurance Group of America Trading Down 0.5 %

Shares of RGA stock opened at $204.87 on Thursday. Reinsurance Group of America, Incorporated has a 1-year low of $135.07 and a 1-year high of $213.21. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. The stock has a 50-day moving average of $204.50 and a 200-day moving average of $185.80.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter in the prior year, the firm posted $5.16 EPS. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 20.94 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.85 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a yield of 1.66%. Reinsurance Group of America’s payout ratio is 26.42%.

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.