Prana Capital Management LP Trims Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Prana Capital Management LP lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,243 shares of the insurance provider's stock after selling 28,267 shares during the period. Reinsurance Group of America makes up approximately 1.6% of Prana Capital Management LP's investment portfolio, making the stock its 19th biggest holding. Prana Capital Management LP owned approximately 0.24% of Reinsurance Group of America worth $33,378,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RGA. Colonial Trust Co SC boosted its holdings in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 57 shares during the period. Spire Wealth Management boosted its stake in shares of Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 57 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at $44,000. Private Trust Co. NA grew its holdings in shares of Reinsurance Group of America by 99.4% in the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock worth $66,000 after purchasing an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Reinsurance Group of America in the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 0.2%

NYSE RGA traded up $0.47 during trading on Monday, hitting $209.59. The company's stock had a trading volume of 421,349 shares, compared to its average volume of 407,959. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The company has a market cap of $13.85 billion, a PE ratio of 19.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The business's 50 day simple moving average is $190.73 and its 200-day simple moving average is $206.74.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. The company had revenue of $5.26 billion during the quarter, compared to analysts' expectations of $5.74 billion. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Reinsurance Group of America's revenue for the quarter was down 17.0% on a year-over-year basis. During the same period last year, the business earned $6.02 EPS. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a $0.89 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.70%. Reinsurance Group of America's dividend payout ratio (DPR) is 30.04%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI dropped their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley increased their price objective on Reinsurance Group of America from $195.00 to $209.00 and gave the stock an "equal weight" rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Piper Sandler decreased their target price on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, UBS Group reissued a "neutral" rating and set a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.