Allspring Global Investments Holdings LLC Has $33.24 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Allspring Global Investments Holdings LLC decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 31.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,573 shares of the insurance provider's stock after selling 70,259 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of Reinsurance Group of America worth $33,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Earnest Partners LLC increased its holdings in shares of Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider's stock valued at $539,476,000 after purchasing an additional 50,228 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider's stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Reinsurance Group of America by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider's stock valued at $112,668,000 after purchasing an additional 15,926 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock valued at $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock valued at $89,758,000 after acquiring an additional 133,212 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 0.1 %

Shares of NYSE:RGA traded down $0.19 during midday trading on Thursday, reaching $212.48. 253,374 shares of the company were exchanged, compared to its average volume of 354,059. Reinsurance Group of America, Incorporated has a fifty-two week low of $144.74 and a fifty-two week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $215.19 and a two-hundred day simple moving average of $207.94. The firm has a market cap of $13.99 billion, a PE ratio of 16.54 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts' consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the business posted $4.40 earnings per share. The firm's quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 27.70%.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RGA shares. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a "hold" rating and a $235.00 price objective on the stock. Citigroup raised their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $226.62.

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.