Prana Capital Management LP Sells 28,267 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Prana Capital Management LP lessened its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,243 shares of the insurance provider’s stock after selling 28,267 shares during the quarter. Reinsurance Group of America accounts for 1.6% of Prana Capital Management LP’s portfolio, making the stock its 19th largest position. Prana Capital Management LP’s holdings in Reinsurance Group of America were worth $33,378,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 48.3% in the 4th quarter. ProShare Advisors LLC now owns 4,259 shares of the insurance provider’s stock worth $910,000 after acquiring an additional 1,388 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Reinsurance Group of America by 8.0% in the 4th quarter. Quantinno Capital Management LP now owns 22,124 shares of the insurance provider’s stock worth $4,726,000 after acquiring an additional 1,646 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Reinsurance Group of America in the 4th quarter worth about $1,867,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Reinsurance Group of America by 283.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,600 shares of the insurance provider’s stock worth $983,000 after acquiring an additional 3,400 shares during the last quarter. Finally, NDVR Inc. lifted its holdings in shares of Reinsurance Group of America by 6.1% in the 4th quarter. NDVR Inc. now owns 1,470 shares of the insurance provider’s stock worth $314,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RGA shares. Evercore ISI lowered their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Piper Sandler lowered their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. UBS Group reaffirmed a “neutral” rating and issued a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $230.69.

Reinsurance Group of America Trading Down 1.0%

NYSE RGA opened at $204.43 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 19.03 and a beta of 0.57. The company’s 50-day simple moving average is $189.92 and its two-hundred day simple moving average is $206.90. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The business had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter last year, the firm posted $6.02 EPS. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 30.04%.

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.