Handelsbanken Fonder AB Sells 81,000 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Handelsbanken Fonder AB trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 83.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 16,300 shares of the insurance provider's stock after selling 81,000 shares during the period. Handelsbanken Fonder AB's holdings in Reinsurance Group of America were worth $3,209,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at $415,000. GAMMA Investing LLC boosted its holdings in Reinsurance Group of America by 179.5% in the 1st quarter. GAMMA Investing LLC now owns 2,412 shares of the insurance provider's stock valued at $475,000 after purchasing an additional 1,549 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the 1st quarter worth approximately $475,000. Farther Finance Advisors LLC raised its position in shares of Reinsurance Group of America by 51.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,311 shares of the insurance provider's stock worth $260,000 after purchasing an additional 447 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Reinsurance Group of America by 20.3% during the 1st quarter. UMB Bank n.a. now owns 2,099 shares of the insurance provider's stock worth $413,000 after purchasing an additional 354 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 1.6%

Shares of Reinsurance Group of America stock traded down $3.11 during trading hours on Tuesday, reaching $194.99. The company's stock had a trading volume of 310,363 shares, compared to its average volume of 412,172. The stock's fifty day simple moving average is $196.38 and its two-hundred day simple moving average is $203.13. The company has a market capitalization of $12.89 billion, a P/E ratio of 16.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results 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 firm had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter last year, the business earned $6.02 earnings per share. The company's quarterly revenue was down 17.0% on a year-over-year basis. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.04%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI decreased their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Morgan Stanley set a $209.00 price target on shares of Reinsurance Group of America and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods increased their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $228.85.

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.