Sumitomo Mitsui Trust Group Inc. Trims Stake in Reinsurance Group of America, Incorporated $RGA

Sumitomo Mitsui Trust Group Inc. lessened its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 31.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,931 shares of the insurance provider’s stock after selling 3,179 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Reinsurance Group of America were worth $1,332,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Reinsurance Group of America during the second quarter valued at approximately $167,955,000. Orion Porfolio Solutions LLC lifted its stake in shares of Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after acquiring an additional 592,748 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Reinsurance Group of America by 19,387.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 561,818 shares of the insurance provider’s stock valued at $111,442,000 after acquiring an additional 558,935 shares during the period. American Century Companies Inc. grew its position in Reinsurance Group of America by 35.2% in the 2nd quarter. American Century Companies Inc. now owns 2,044,818 shares of the insurance provider’s stock valued at $405,610,000 after acquiring an additional 532,891 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Reinsurance Group of America by 534.1% in the second quarter. Nordea Investment Management AB now owns 570,386 shares of the insurance provider’s stock worth $112,828,000 after purchasing an additional 480,435 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA opened at $194.57 on Monday. The stock has a market capitalization of $12.79 billion, a PE ratio of 14.97 and a beta of 0.55. The company has a 50 day moving average price of $196.77 and a 200-day moving average price of $193.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.13 and a current ratio of 0.13. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $232.97.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.19% and a net margin of 3.89%.The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business earned $6.13 earnings per share. Reinsurance Group of America’s revenue was up 9.8% on a year-over-year basis. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, November 10th. Reinsurance Group of America’s payout ratio is 28.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RGA. Morgan Stanley set a $208.00 price target on shares of Reinsurance Group of America in a report on Monday, December 15th. Raymond James Financial cut shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Keefe, Bruyette & Woods lowered their price target on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Piper Sandler increased their price objective on Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.67.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.