Reinsurance Group of America, Incorporated $RGA Shares Sold by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. reduced its stake in Reinsurance Group of America (NYSE:RGA) by 77.6%, selling 38,035 shares and ending the quarter with 10,965 shares valued at approximately $2.16 million.
• Meanwhile, GAMMA Investing LLC dramatically increased its holdings by 54,931.6%, acquiring an additional 474,060 shares, bringing its total to 474,923 shares valued at $93.5 million.
• Reinsurance Group of America recently announced an increased quarterly dividend of $0.93 per share, up from $0.89, yielding 2.0%, with a payout ratio of 32.29%.

Sit Investment Associates Inc. decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 77.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,965 shares of the insurance provider's stock after selling 38,035 shares during the period. Sit Investment Associates Inc.'s holdings in Reinsurance Group of America were worth $2,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Reinsurance Group of America by 1.7% in the 1st quarter. Russell Investments Group Ltd. now owns 277,331 shares of the insurance provider's stock worth $54,607,000 after acquiring an additional 4,589 shares during the period. Prudential PLC grew its holdings in Reinsurance Group of America by 164.1% during the 1st quarter. Prudential PLC now owns 43,472 shares of the insurance provider's stock valued at $8,560,000 after buying an additional 27,013 shares during the last quarter. AIA Group Ltd grew its holdings in Reinsurance Group of America by 29.7% during the 1st quarter. AIA Group Ltd now owns 3,964 shares of the insurance provider's stock valued at $781,000 after buying an additional 908 shares during the last quarter. SouthState Corp acquired a new stake in Reinsurance Group of America during the 1st quarter valued at $48,000. Finally, Nuveen LLC acquired a new stake in Reinsurance Group of America during the 1st quarter valued at $69,092,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 1.5%

Reinsurance Group of America stock traded up $2.8460 during midday trading on Wednesday, hitting $191.9660. The stock had a trading volume of 176,501 shares, compared to its average volume of 457,236. 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 business has a fifty day moving average price of $193.15 and a 200 day moving average price of $195.19. The stock has a market cap of $12.69 billion, a P/E ratio of 16.66 and a beta of 0.61. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81.

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

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, August 12th. Reinsurance Group of America's payout ratio is presently 32.29%.

Analysts Set New Price Targets

A number of equities research analysts have commented on RGA shares. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Wells Fargo & Company cut their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Morgan Stanley reduced their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

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.