Pzena Investment Management LLC Reduces Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Pzena Investment Management LLC decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 97.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,457 shares of the insurance provider’s stock after selling 144,930 shares during the quarter. Pzena Investment Management LLC’s holdings in Reinsurance Group of America were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. International Assets Investment Management LLC lifted its stake in Reinsurance Group of America by 16,078.1% in the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after acquiring an additional 22,027 shares during the period. New York Life Investment Management LLC lifted its stake in Reinsurance Group of America by 6.9% in the fourth quarter. New York Life Investment Management LLC now owns 7,555 shares of the insurance provider’s stock worth $1,222,000 after acquiring an additional 486 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Reinsurance Group of America by 1,545.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 576 shares of the insurance provider’s stock worth $94,000 after acquiring an additional 541 shares during the period. Axxcess Wealth Management LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth $218,000. Finally, Private Advisor Group LLC lifted its stake in Reinsurance Group of America by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $219.59 on Thursday. Reinsurance Group of America, Incorporated has a 1-year low of $135.57 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 has a fifty day moving average price of $211.06 and a 200-day moving average price of $199.96. The company has a market capitalization of $14.46 billion, a PE ratio of 17.06 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm posted $4.40 earnings per share. Reinsurance Group of America’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal 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 given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Analyst Ratings Changes

A number of analysts recently commented on RGA shares. Piper Sandler increased their price objective 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. Royal Bank of Canada increased their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Jefferies Financial Group increased their price objective on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.45.

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.