Allspring Global Investments Holdings LLC Cuts Holdings in Reinsurance Group of America, Incorporated $RGA

Allspring Global Investments Holdings LLC lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 26.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,375 shares of the insurance provider’s stock after selling 19,539 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Reinsurance Group of America worth $11,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Porfolio Solutions LLC boosted its stake in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after buying an additional 592,748 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Reinsurance Group of America during the second quarter valued at $69,426,000. American Century Companies Inc. grew its stake in shares of Reinsurance Group of America by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after buying an additional 324,239 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Reinsurance Group of America during the third quarter valued at approximately $35,266,000. Finally, AQR Capital Management LLC raised its position in Reinsurance Group of America by 29.6% during the second quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after acquiring an additional 182,729 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $205.29 on Monday. The stock has a 50 day moving average price of $209.31 and a 200 day moving average price of $199.45. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $229.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $13.46 billion, a P/E ratio of 11.57 and a beta of 0.52.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating the consensus estimate of $5.86 by $1.89. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.25 billion. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.Reinsurance Group of America’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.99 EPS. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.93 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RGA shares. Piper Sandler restated an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a research report on Friday, February 6th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Morgan Stanley upped their price target on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Barclays set a $245.00 target price on Reinsurance Group of America and gave the stock an “overweight” rating in a research note on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $249.33.

Reinsurance Group of America Company 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.