Principal Financial Group Inc. Has $33.27 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 30.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,717 shares of the insurance provider's stock after selling 66,549 shares during the period. Principal Financial Group Inc. owned about 0.23% of Reinsurance Group of America worth $33,272,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new stake in Reinsurance Group of America during the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America during the first quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America during the second quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America during the first quarter worth about $33,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on RGA shares. Citigroup raised their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Raymond James lifted their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Finally, Morgan Stanley decreased their target price on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned 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 $227.38.

Reinsurance Group of America Stock Up 0.2 %

Shares of RGA traded up $0.35 during midday trading on Tuesday, hitting $228.59. 182,367 shares of the company's stock traded hands, compared to its average volume of 355,750. The firm's fifty day moving average is $216.24 and its 200-day moving average is $210.80. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 20.96 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1 year low of $156.98 and a 1 year high of $230.39.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.57 earnings per share. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.56%. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.69%.

Insiders Place Their Bets

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

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.