Reinsurance Group of America, Incorporated $RGA Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC decreased its stake in Reinsurance Group of America by 8.3%, now holding approximately 0.08% of the company valued at $10.1 million.
• Reinsurance Group of America has experienced significant changes in institutional ownership, with companies like Nordea Investment Management AB increasing their stake by over 534% during the second quarter.
• The company reported $4.72 earnings per share (EPS) for the latest quarter, falling short of analysts' expectations, while also announcing an increase in its quarterly dividend from $0.89 to $0.93.

Mutual of America Capital Management LLC trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,911 shares of the insurance provider's stock after selling 4,595 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Reinsurance Group of America worth $10,099,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Reinsurance Group of America by 534.1% in the second quarter. Nordea Investment Management AB now owns 570,386 shares of the insurance provider's stock worth $112,828,000 after purchasing an additional 480,435 shares during the period. WCM Investment Management LLC lifted its position in Reinsurance Group of America by 5.0% in the second quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider's stock worth $521,343,000 after purchasing an additional 125,937 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Reinsurance Group of America by 21.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,895 shares of the insurance provider's stock worth $5,533,000 after purchasing an additional 4,933 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Reinsurance Group of America in the second quarter worth approximately $388,000. Finally, Vest Financial LLC lifted its position in Reinsurance Group of America by 30.7% in the second quarter. Vest Financial LLC now owns 20,001 shares of the insurance provider's stock worth $3,967,000 after purchasing an additional 4,699 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RGA shares. Wells Fargo & Company cut their target price 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. Piper Sandler reaffirmed an "overweight" rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Barclays reaffirmed an "overweight" rating and issued a $246.00 price target on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price target on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $241.56.

Reinsurance Group of America Price Performance

RGA opened at $187.77 on Monday. The stock has a fifty day moving average of $191.66 and a 200-day moving average of $193.09. The firm has a market capitalization of $12.41 billion, a P/E ratio of 16.30 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results 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). The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.48 EPS. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

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.

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