Raymond James Trust N.A. Decreases Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Raymond James Trust N.A. reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 16.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,920 shares of the insurance provider’s stock after selling 375 shares during the quarter. Raymond James Trust N.A.’s holdings in Reinsurance Group of America were worth $394,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $122,301,000. Junto Capital Management LP purchased a new stake in Reinsurance Group of America during the 4th quarter worth $92,083,000. Balyasny Asset Management L.P. purchased a new stake in Reinsurance Group of America during the 4th quarter worth $67,177,000. Corient Private Wealth LLC boosted its position in Reinsurance Group of America by 1,965.4% in the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after buying an additional 283,907 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Reinsurance Group of America by 713.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock valued at $47,098,000 after acquiring an additional 255,326 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $211.74 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $209.59 and its two-hundred day moving average price is $198.05. Reinsurance Group of America, Incorporated has a 52-week low of $135.57 and a 52-week high of $227.87. The stock has a market capitalization of $13.93 billion, a P/E ratio of 16.45 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $4.40 EPS. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI boosted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Citigroup increased their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.45.

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.