Ameritas Investment Partners Inc. Has $4.88 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Ameritas Investment Partners Inc. cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,794 shares of the insurance provider’s stock after selling 558 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Reinsurance Group of America were worth $4,884,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RGA. Pineridge Advisors LLC acquired a new stake in Reinsurance Group of America in the fourth quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of Reinsurance Group of America in the 1st quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Reinsurance Group of America during the 1st quarter worth approximately $29,000. Finally, Family Firm Inc. bought a new position in Reinsurance Group of America in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RGA shares. Evercore ISI boosted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Piper Sandler upped their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Raymond James increased their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. StockNews.com downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Trading Up 0.4 %

NYSE:RGA opened at $219.62 on Friday. Reinsurance Group of America, Incorporated has a 52 week low of $140.39 and a 52 week high of $227.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The firm’s fifty day moving average is $212.96 and its 200-day moving average is $203.22. The firm has a market cap of $14.45 billion, a P/E ratio of 17.06 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is currently 27.66%.

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.