Federated Hermes Inc. Has $69.25 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Federated Hermes Inc. cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 21.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,111 shares of the insurance provider’s stock after selling 93,131 shares during the period. Federated Hermes Inc. owned approximately 0.53% of Reinsurance Group of America worth $69,250,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RGA. Headlands Technologies LLC increased its holdings in Reinsurance Group of America by 357.1% during the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 175 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Reinsurance Group of America by 31.2% in the first quarter. National Bank of Canada FI now owns 38,490 shares of the insurance provider’s stock valued at $7,578,000 after purchasing an additional 9,151 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $816,000. Townsquare Capital LLC grew its holdings in Reinsurance Group of America by 22.4% during the first quarter. Townsquare Capital LLC now owns 2,769 shares of the insurance provider’s stock worth $545,000 after buying an additional 506 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Reinsurance Group of America in the 1st quarter valued at $6,128,000. Institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Barclays reissued an “overweight” rating and set a $246.00 price target on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Raymond James Financial downgraded shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Morgan Stanley decreased their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Finally, Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $239.89.

Reinsurance Group of America Price Performance

RGA opened at $193.01 on Monday. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $232.97. The firm has a 50-day moving average of $190.10 and a 200 day moving average of $192.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $12.68 billion, a P/E ratio of 14.85 and a beta of 0.55.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $6.13 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were paid a $0.93 dividend. The ex-dividend date was Monday, November 10th. This represents a $3.72 annualized dividend and a yield of 1.9%. Reinsurance Group of America’s dividend payout ratio is presently 28.62%.

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.