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

Principal Financial Group Inc. cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,266 shares of the insurance provider’s stock after selling 29,181 shares during the period. Principal Financial Group Inc. owned about 0.33% of Reinsurance Group of America worth $45,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in Reinsurance Group of America during the second quarter valued at $29,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $29,000. LRI Investments LLC acquired a new position in Reinsurance Group of America in the 1st quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new position in Reinsurance Group of America during the fourth quarter worth approximately $26,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGA has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Jefferies Financial Group upped their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Citigroup upped 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. Finally, Evercore ISI lifted their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.45.

Reinsurance Group of America Price Performance

RGA stock opened at $220.77 on Friday. 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 business has a 50 day simple moving average of $210.29 and a 200-day simple moving average of $198.68. The firm has a market capitalization of $14.52 billion, a PE ratio of 17.15 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1 year low of $135.57 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned $4.40 earnings per share. Equities research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.61%. Reinsurance Group of America’s dividend payout ratio is 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.