QRG Capital Management Inc. Trims Stake in Reinsurance Group of America, Incorporated $RGA

QRG Capital Management Inc. reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 18.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,195 shares of the insurance provider’s stock after selling 745 shares during the quarter. QRG Capital Management Inc.’s holdings in Reinsurance Group of America were worth $634,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. HighMark Wealth Management LLC raised its position in Reinsurance Group of America by 429.8% during the second quarter. HighMark Wealth Management LLC now owns 302 shares of the insurance provider’s stock valued at $60,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank purchased a new position in Reinsurance Group of America during the second quarter valued at approximately $176,000. Consolidated Planning Corp raised its position in Reinsurance Group of America by 12.1% during the second quarter. Consolidated Planning Corp now owns 7,256 shares of the insurance provider’s stock valued at $1,439,000 after acquiring an additional 781 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Reinsurance Group of America by 7.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 61,952 shares of the insurance provider’s stock valued at $12,289,000 after buying an additional 4,478 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of Reinsurance Group of America by 7.3% in the second quarter. Truist Financial Corp now owns 11,584 shares of the insurance provider’s stock valued at $2,298,000 after buying an additional 791 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

RGA opened at $194.49 on Friday. The stock’s 50-day moving average price is $190.43 and its 200 day moving average price is $193.41. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 16.88 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $5.48 EPS. Reinsurance Group of America’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio is currently 32.29%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday. Morgan Stanley cut their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Barclays restated an “overweight” rating and issued a $246.00 price objective on shares of Reinsurance Group of America in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.56.

Reinsurance Group of America 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.