Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 68.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,322 shares of the insurance provider’s stock after selling 11,728 shares during the quarter. Prudential Financial Inc.’s holdings in Reinsurance Group of America were worth $1,137,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock valued at $1,541,121,000 after buying an additional 51,733 shares in the last quarter. WCM Investment Management LLC increased its holdings in Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after acquiring an additional 33,082 shares in the last quarter. Geode Capital Management LLC raised its position in Reinsurance Group of America by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after acquiring an additional 18,162 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Reinsurance Group of America by 47.7% in the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after purchasing an additional 117,829 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $48,724,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Down 7.9 %

RGA stock opened at $172.27 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. The business has a fifty day simple moving average of $201.62 and a 200-day simple moving average of $212.66. Reinsurance Group of America, Incorporated has a 52 week low of $170.19 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 2.07%. Reinsurance Group of America’s payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RGA shares. Barclays reduced their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $230.38.

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.