Prudential PLC Sells 11,146 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Prudential PLC lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 40.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,459 shares of the insurance provider’s stock after selling 11,146 shares during the period. Prudential PLC’s holdings in Reinsurance Group of America were worth $3,516,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RGA. Benjamin Edwards Inc. bought a new stake in shares of Reinsurance Group of America in the third quarter worth $427,000. Hilltop Holdings Inc. bought a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at about $228,000. HighTower Advisors LLC increased its position in shares of Reinsurance Group of America by 13.3% during the 3rd quarter. HighTower Advisors LLC now owns 51,855 shares of the insurance provider’s stock valued at $11,266,000 after purchasing an additional 6,101 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Reinsurance Group of America by 18.7% in the 3rd quarter. Quantinno Capital Management LP now owns 20,478 shares of the insurance provider’s stock worth $4,462,000 after purchasing an additional 3,226 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Reinsurance Group of America by 8.2% in the third quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after buying an additional 27,931 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on RGA shares. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $232.00 to $237.00 in a research report on Wednesday. Wells Fargo & Company lifted their target price 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. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Piper Sandler decreased their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.38.

Reinsurance Group of America Trading Down 7.9 %

Reinsurance Group of America stock opened at $172.27 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $170.19 and a 1 year high of $233.81. The firm’s 50 day moving average price is $201.62 and its 200-day moving average price is $212.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The stock has a market cap of $11.37 billion, a P/E ratio of 16.04 and a beta of 0.70.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly 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 net margin of 3.24% and a return on equity of 14.55%. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Reinsurance Group of America 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.