Federated Hermes Inc. Lowers Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Federated Hermes Inc. reduced its stake in Reinsurance Group of America by 1.6%, meaning it now owns 0.67% of the company, valued at approximately $87 million.
• AllianceBernstein L.P. significantly increased its holdings in Reinsurance Group of America by 389.4%, owning over 1.1 million shares after adding an additional 893,537 shares in the fourth quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for the stock, with price targets ranging from $210 to $264, reflecting a mixed outlook on its performance.

Federated Hermes Inc. lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 442,242 shares of the insurance provider's stock after selling 7,396 shares during the period. Federated Hermes Inc. owned about 0.67% of Reinsurance Group of America worth $87,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Reinsurance Group of America by 1.3% during the fourth quarter. JPMorgan Chase & Co. now owns 369,732 shares of the insurance provider's stock valued at $78,986,000 after buying an additional 4,779 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Reinsurance Group of America by 3.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,847 shares of the insurance provider's stock valued at $1,890,000 after buying an additional 290 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Reinsurance Group of America during the fourth quarter valued at approximately $2,031,000. Brown Brothers Harriman & Co. raised its stake in Reinsurance Group of America by 265.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 395 shares of the insurance provider's stock valued at $84,000 after buying an additional 287 shares in the last quarter. Finally, AIA Group Ltd acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $653,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 1.7%

Shares of RGA traded down $3.37 during mid-day trading on Wednesday, hitting $190.42. The company's stock had a trading volume of 409,283 shares, compared to its average volume of 319,752. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 16.07 and a beta of 0.62. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. The company's 50-day moving average is $198.16 and its 200-day moving average is $199.24.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. The company's revenue was down 17.0% compared to the same quarter last year. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.89 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 annualized dividend and a dividend yield of 1.87%. Reinsurance Group of America's dividend payout ratio is currently 30.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RGA. Keefe, Bruyette & Woods increased their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $216.00 price target (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company restated an "overweight" rating and issued a $249.00 target price (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Finally, Morgan Stanley raised their target price on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.36.

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.