Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 10.8% during the 1st quarter, HoldingsChannel reports. The fund owned 32,797 shares of the insurance provider’s stock after selling 3,976 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Reinsurance Group of America were worth $6,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its holdings in Reinsurance Group of America by 10,415.8% in the 4th quarter. National Bank of Canada FI now owns 29,339 shares of the insurance provider’s stock valued at $6,273,000 after buying an additional 29,060 shares during the period. World Investment Advisors raised its holdings in Reinsurance Group of America by 10.0% in the 4th quarter. World Investment Advisors now owns 2,751 shares of the insurance provider’s stock valued at $588,000 after buying an additional 251 shares during the period. Envestnet Asset Management Inc. raised its holdings in Reinsurance Group of America by 5.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 493,596 shares of the insurance provider’s stock valued at $105,447,000 after buying an additional 26,151 shares during the period. Russell Investments Group Ltd. raised its holdings in Reinsurance Group of America by 16.7% in the 4th quarter. Russell Investments Group Ltd. now owns 272,742 shares of the insurance provider’s stock valued at $58,266,000 after buying an additional 39,095 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Reinsurance Group of America by 4.3% in the 4th quarter. Federated Hermes Inc. now owns 449,638 shares of the insurance provider’s stock valued at $96,056,000 after buying an additional 18,412 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RGA. Wells Fargo & Company reduced their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James Financial reiterated a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods boosted 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.64.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $176.77 on Tuesday. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a market cap of $11.68 billion, a PE ratio of 15.34 and a beta of 0.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50-day simple moving average of $196.78 and a 200-day simple moving average of $198.06.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm posted $5.48 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America’s dividend payout ratio is presently 32.29%.

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.