Massachusetts Financial Services Co. MA Sells 7,490 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,918 shares of the insurance provider’s stock after selling 7,490 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.25% of Reinsurance Group of America worth $33,647,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Earnest Partners LLC lifted its position in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after buying an additional 104,256 shares in the last quarter. Sei Investments Co. raised its stake 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 worth $150,448,000 after acquiring an additional 42,135 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the 4th quarter worth approximately $122,301,000. Jacobs Levy Equity Management Inc. boosted its position in shares of 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 purchasing an additional 15,926 shares during the period. 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 currently owned by institutional investors.

Reinsurance Group of America Price Performance

RGA stock 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 firm has a market capitalization of $14.45 billion, a P/E ratio of 17.06 and a beta of 0.91. The company has a fifty day simple moving average of $212.96 and a two-hundred day simple moving average of $203.22. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last announced 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. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the firm earned $4.40 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on RGA. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price target 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. Jefferies Financial Group increased their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, UBS Group boosted their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

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.