Allspring Global Investments Holdings LLC Increases Stock Position in Reinsurance Group of America, Incorporated $RGA

Allspring Global Investments Holdings LLC boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,085 shares of the insurance provider’s stock after purchasing an additional 2,710 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Reinsurance Group of America worth $11,660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGA. AQR Capital Management LLC increased its position in shares of Reinsurance Group of America by 148.4% during the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after acquiring an additional 987,014 shares during the last quarter. Norges Bank acquired a new position in shares of Reinsurance Group of America in the fourth quarter worth about $173,767,000. Orion Porfolio Solutions LLC boosted its holdings in 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 valued at $119,512,000 after purchasing an additional 592,748 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Reinsurance Group of America in the second quarter valued at about $69,426,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America during the 3rd quarter valued at approximately $35,266,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RGA. Wells Fargo & Company increased their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen increased their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research note on Wednesday. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, Barclays increased their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $255.00.

Reinsurance Group of America Trading Down 1.5%

Shares of NYSE:RGA opened at $235.26 on Thursday. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $245.00. The company has a market cap of $15.41 billion, a PE ratio of 12.74 and a beta of 0.47. The company’s 50-day moving average price is $215.73 and its 200 day moving average price is $210.40. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the previous year, the business earned $5.66 EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

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.