Reinsurance Group of America, Incorporated (NYSE:RGA) Holdings Trimmed by Prana Capital Management LP

Prana Capital Management LP lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,510 shares of the insurance provider’s stock after selling 15,320 shares during the period. Reinsurance Group of America makes up 1.8% of Prana Capital Management LP’s portfolio, making the stock its 18th biggest position. Prana Capital Management LP’s holdings in Reinsurance Group of America were worth $40,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. WCM Investment Management LLC grew its position in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in shares of Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after buying an additional 442,883 shares during the period. Millennium Management LLC increased its stake in shares of Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after acquiring an additional 133,212 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Reinsurance Group of America during the third quarter worth $11,803,000. Finally, Earnest Partners LLC boosted its position in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after purchasing an additional 50,228 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.7 %

Shares of RGA stock opened at $225.85 on Wednesday. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.87 billion, a PE ratio of 20.74 and a beta of 0.93. The stock has a 50 day moving average of $220.52 and a 200-day moving average of $213.98.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company posted $5.57 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.58%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RGA. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Barclays increased their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler raised their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Company 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.