National Bank of Canada FI Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

National Bank of Canada FI reduced its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 97.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270 shares of the insurance provider’s stock after selling 8,692 shares during the period. National Bank of Canada FI’s holdings in Reinsurance Group of America were worth $55,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Earnest Partners LLC increased its stake in shares of Reinsurance Group of America by 4.2% during the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares in the last quarter. Sei Investments Co. increased its position in Reinsurance Group of America by 5.7% during the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after buying an additional 42,135 shares in the last quarter. Norges Bank purchased a new position in Reinsurance Group of America during the fourth quarter valued at $122,301,000. Jacobs Levy Equity Management Inc. boosted its holdings in Reinsurance Group of America by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after acquiring an additional 15,926 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth $92,083,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

NYSE RGA opened at $213.74 on Friday. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 16.61 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1-year low of $140.39 and a 1-year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The business’s fifty day moving average price is $212.08 and its 200-day moving average price is $201.96.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data 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 company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. Reinsurance Group of America’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.40 earnings per share. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RGA shares. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Piper Sandler increased their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Morgan Stanley decreased their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, StockNews.com cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $223.33.

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.