Massachusetts Financial Services Co. MA Sells 6,106 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,236 shares of the insurance provider’s stock after selling 6,106 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.21% of Reinsurance Group of America worth $28,890,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management raised its position in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $44,000. Versant Capital Management Inc boosted its holdings in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 80 shares during the period. Private Trust Co. NA increased its position in shares of Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after purchasing an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Reinsurance Group of America during the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RGA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Evercore ISI lowered their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Barclays reduced their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Piper Sandler lowered their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average target price of $230.38.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $172.27 on Monday. Reinsurance Group of America, Incorporated has a 12 month low of $150.00 and a 12 month high of $233.81. The stock has a fifty day moving average price of $201.62 and a 200-day moving average price of $212.66. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.37 billion, a PE ratio of 16.04 and a beta of 0.70.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

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.