AGF Management Ltd. Sells 3,450 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

AGF Management Ltd. decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 23.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,114 shares of the insurance provider’s stock after selling 3,450 shares during the quarter. AGF Management Ltd.’s holdings in Reinsurance Group of America were worth $2,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RGA. Eagle Asset Management Inc. grew its stake in Reinsurance Group of America by 15.7% in the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after purchasing an additional 15,289 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Reinsurance Group of America by 19.2% in the 4th quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after buying an additional 29,352 shares during the last quarter. Martin Capital Partners LLC bought a new position in shares of Reinsurance Group of America in the fourth quarter valued at $1,788,000. Nordea Investment Management AB increased its holdings in Reinsurance Group of America by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after buying an additional 4,119 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Reinsurance Group of America by 23.8% during the fourth quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock worth $3,077,000 after acquiring an additional 2,768 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RGA. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Morgan Stanley reduced their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on 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. Finally, Piper Sandler decreased their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $231.85.

Reinsurance Group of America Trading Down 1.0 %

RGA stock opened at $185.97 on Friday. Reinsurance Group of America, Incorporated has a 52 week low of $178.84 and a 52 week high of $233.81. The company has a market capitalization of $12.28 billion, a PE ratio of 17.32 and a beta of 0.91. The company’s 50-day simple moving average is $210.42 and its 200 day simple moving average is $215.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.91%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

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.