Reinsurance Group of America, Incorporated (NYSE:RGA) Stake Trimmed by FDx Advisors Inc.

FDx Advisors Inc. cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 41.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,385 shares of the insurance provider’s stock after selling 985 shares during the quarter. FDx Advisors Inc.’s holdings in Reinsurance Group of America were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pineridge Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the 1st quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the 2nd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at $29,000. Finally, Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter worth $29,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RGA has been the topic of several recent analyst reports. Evercore ISI upped their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Citigroup increased their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group increased their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler boosted their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Price Performance

NYSE RGA opened at $216.44 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $136.04 and a fifty-two week high of $227.87. The stock’s 50-day moving average is $211.26 and its two-hundred day moving average is $200.07. The firm has a market cap of $14.25 billion, a P/E ratio of 16.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $4.40 EPS. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

About Reinsurance Group of America

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.