Allspring Global Investments Holdings LLC Purchases 77,030 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Allspring Global Investments Holdings LLC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 42.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 259,891 shares of the insurance provider’s stock after acquiring an additional 77,030 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.39% of Reinsurance Group of America worth $32,696,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in shares of Reinsurance Group of America by 10.1% in the 3rd quarter. Truist Financial Corp now owns 15,050 shares of the insurance provider’s stock worth $1,893,000 after acquiring an additional 1,376 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in Reinsurance Group of America during the 3rd quarter valued at about $101,000. Janney Montgomery Scott LLC lifted its holdings in Reinsurance Group of America by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 6,748 shares of the insurance provider’s stock valued at $849,000 after buying an additional 71 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Reinsurance Group of America by 35.2% during the 3rd quarter. Fifth Third Bancorp now owns 25,655 shares of the insurance provider’s stock valued at $3,228,000 after buying an additional 6,681 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Reinsurance Group of America during the 3rd quarter valued at about $5,552,000. Institutional investors own 96.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RGA shares. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $136.00 to $141.00 and gave the company a “neutral” rating in a report on Friday. Barclays lifted their price objective on shares of Reinsurance Group of America from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Tuesday, November 8th. Royal Bank of Canada upgraded shares of Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $145.00 to $170.00 in a report on Tuesday, December 6th. Citigroup lifted their price objective on shares of Reinsurance Group of America from $112.00 to $116.00 in a report on Wednesday, November 16th. Finally, Evercore ISI upgraded shares of Reinsurance Group of America from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $148.00 to $167.00 in a report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.00.

Reinsurance Group of America Trading Down 1.1 %

NYSE RGA opened at $143.98 on Tuesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 1.12. The firm has a market cap of $9.62 billion, a PE ratio of 16.98 and a beta of 0.89. The company has a 50 day moving average price of $141.08 and a 200 day moving average price of $131.28. Reinsurance Group of America, Incorporated has a 52 week low of $97.61 and a 52 week high of $148.75.

Reinsurance Group of America (NYSE:RGAGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The insurance provider reported $5.20 EPS for the quarter, topping the consensus estimate of $2.94 by $2.26. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 9.22%. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 15.08 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $3.20 annualized dividend and a dividend yield of 2.22%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 37.74%.

Reinsurance Group of America Company Profile

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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