Panagora Asset Management Inc. Reduces Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Panagora Asset Management Inc. decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 104,052 shares of the insurance provider’s stock after selling 11,247 shares during the period. Panagora Asset Management Inc.’s holdings in Reinsurance Group of America were worth $21,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at $35,000. Entrust Financial LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at $40,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the 3rd quarter valued at $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Reinsurance Group of America by 632.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Evercore restated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Piper Sandler dropped their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $210.27 on Tuesday. The firm has a market cap of $13.77 billion, a P/E ratio of 11.39 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $229.21. The stock’s fifty day moving average price is $208.30 and its 200-day moving average price is $205.90.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.66 EPS. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is presently 20.15%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.