Corebridge Financial Inc. Has $14.33 Million Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Corebridge Financial Inc. has reduced its stake in Reinsurance Group of America by 2.4%, now owning approximately $14.33 million worth of shares after selling 1,769 shares.
• Reinsurance Group of America announced an increase in its quarterly dividend to $0.93 per share, with a dividend yield of 1.9%, reflecting a boost from the previous dividend of $0.89.
• Analysts have differing views on the stock, with seven$242.27.

Corebridge Financial Inc. reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,757 shares of the insurance provider's stock after selling 1,769 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Reinsurance Group of America worth $14,326,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Reinsurance Group of America during the 1st quarter worth about $28,000. Colonial Trust Co SC grew its position in shares of Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 57 shares during the period. Golden State Wealth Management LLC grew its position in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 121 shares during the period. Finally, TCTC Holdings LLC grew its position in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Morgan Stanley decreased their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Down 0.3%

Shares of Reinsurance Group of America stock traded down $0.61 on Thursday, reaching $193.41. 270,765 shares of the company were exchanged, compared to its average volume of 533,347. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 16.79 and a beta of 0.61. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $192.54 and a 200 day moving average of $194.01.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company earned $5.48 EPS. The company's revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

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.