Allspring Global Investments Holdings LLC Decreases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Allspring Global Investments Holdings LLC trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 31.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 152,573 shares of the insurance provider’s stock after selling 70,259 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Reinsurance Group of America were worth $33,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Janiczek Wealth Management LLC lifted its holdings in shares of Reinsurance Group of America by 40.8% during the first quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 111 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Reinsurance Group of America by 13.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,394 shares of the insurance provider’s stock valued at $655,000 after buying an additional 392 shares during the period. First Bank & Trust purchased a new stake in shares of Reinsurance Group of America during the 1st quarter worth about $209,000. Oliver Luxxe Assets LLC grew its holdings in Reinsurance Group of America by 2.2% in the first quarter. Oliver Luxxe Assets LLC now owns 4,791 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 104 shares during the period. Finally, State of Michigan Retirement System increased its position in shares of Reinsurance Group of America by 1.9% in the first quarter. State of Michigan Retirement System now owns 16,152 shares of the insurance provider’s stock valued at $3,115,000 after buying an additional 300 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on RGA. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays decreased their target price on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.62.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Down 0.3 %

Shares of NYSE:RGA opened at $212.67 on Thursday. The firm has a market capitalization of $13.99 billion, a PE ratio of 16.52 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1 year low of $144.74 and a 1 year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The firm’s 50-day moving average is $215.19 and its two-hundred day moving average is $207.94.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.40 EPS. Analysts predict that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Reinsurance Group of America Company 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.