LSV Asset Management Lowers Stock Holdings in Reinsurance Group of America, Incorporated $RGA

LSV Asset Management lessened its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,004 shares of the insurance provider’s stock after selling 26,332 shares during the quarter. LSV Asset Management owned approximately 0.26% of Reinsurance Group of America worth $34,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RGA. TCTC Holdings LLC lifted its position in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of Reinsurance Group of America by 357.1% during the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after buying an additional 175 shares during the period. SouthState Corp acquired a new stake in Reinsurance Group of America in the first quarter valued at approximately $48,000. Oakworth Capital Inc. lifted its stake in Reinsurance Group of America by 32.4% in the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Reinsurance Group of America by 93.9% in the 2nd quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 138 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 for the company in a research report on Monday, August 4th. Raymond James Financial downgraded shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Piper Sandler reiterated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Morgan Stanley lowered their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $186.83 on Wednesday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 16.22 and a beta of 0.62. The company’s 50-day moving average is $189.95 and its two-hundred day moving average is $194.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company posted $6.13 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 10th. Reinsurance Group of America’s payout ratio is 28.62%.

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.