Man Group plc Sells 16,078 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Man Group plc trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,965 shares of the insurance provider's stock after selling 16,078 shares during the period. Man Group plc owned 0.19% of Reinsurance Group of America worth $26,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC raised its holdings in Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Spire Wealth Management grew its position in shares of Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after buying an additional 57 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $44,000. Private Trust Co. NA lifted its position in Reinsurance Group of America by 99.4% during the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock valued at $66,000 after acquiring an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $70,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Down 0.0%

Shares of NYSE:RGA opened at $204.81 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of 19.07 and a beta of 0.57. The business has a 50-day moving average price of $190.29 and a 200-day moving average price of $206.84.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the company earned $6.02 EPS. Reinsurance Group of America's quarterly revenue was down 17.0% on a year-over-year basis. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.89 per share. The ex-dividend date is Tuesday, May 13th. This represents a $3.56 annualized dividend and a dividend yield of 1.74%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RGA. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. raised Reinsurance Group of America from a "neutral" rating to an "overweight" rating and upped their target price for the company from $232.00 to $237.00 in a research report on Wednesday, April 2nd. Evercore ISI lowered their price target on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Piper Sandler dropped their price target on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.