State of Tennessee Treasury Department cut its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,121 shares of the insurance provider’s stock after selling 6,622 shares during the period. State of Tennessee Treasury Department owned 0.06% of Reinsurance Group of America worth $3,039,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Penn Capital Management Co. Inc. grew its position in Reinsurance Group of America by 0.4% in the 4th quarter. Penn Capital Management Co. Inc. now owns 16,160 shares of the insurance provider’s stock valued at $2,635,000 after buying an additional 72 shares during the last quarter. Signaturefd LLC grew its position in Reinsurance Group of America by 20.0% in the 1st quarter. Signaturefd LLC now owns 654 shares of the insurance provider’s stock valued at $55,000 after buying an additional 109 shares during the last quarter. Cigna Investments Inc. New grew its position in Reinsurance Group of America by 1.6% in the 1st quarter. Cigna Investments Inc. New now owns 7,475 shares of the insurance provider’s stock valued at $628,000 after buying an additional 120 shares during the last quarter. Brinker Capital Inc. grew its position in Reinsurance Group of America by 1.8% in the 4th quarter. Brinker Capital Inc. now owns 7,073 shares of the insurance provider’s stock valued at $1,153,000 after buying an additional 126 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Reinsurance Group of America by 2.2% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 5,851 shares of the insurance provider’s stock valued at $492,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

A number of equities analysts recently weighed in on RGA shares. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $118.00 price objective on the stock in a research report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on Reinsurance Group of America from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Morgan Stanley reduced their target price on Reinsurance Group of America from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, June 3rd. Royal Bank of Canada downgraded Reinsurance Group of America from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $175.00 to $105.00 in a report on Friday, March 20th. Finally, Piper Sandler began coverage on Reinsurance Group of America in a report on Friday, May 29th. They issued a “neutral” rating and a $102.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $124.63.

NYSE:RGA opened at $76.09 on Tuesday. The company has a market capitalization of $4.62 billion, a PE ratio of 7.95 and a beta of 1.13. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.32. Reinsurance Group of America Inc has a 52-week low of $55.39 and a 52-week high of $169.26. The stock has a fifty day simple moving average of $88.07 and a 200-day simple moving average of $118.29.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($1.22). The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.57 billion. Reinsurance Group of America had a return on equity of 7.19% and a net margin of 4.35%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.61 EPS. As a group, equities analysts anticipate that Reinsurance Group of America Inc will post 7.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, May 20th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.97%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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