Principal Financial Group Inc. Cuts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 30.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 0.23% of Reinsurance Group of America worth $33,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its holdings in shares of Reinsurance Group of America by 15.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider's stock worth $25,297,000 after acquiring an additional 15,289 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Reinsurance Group of America in the second quarter valued at $1,925,000. Insight Wealth Strategies LLC bought a new position in shares of Reinsurance Group of America in the third quarter valued at about $3,548,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Reinsurance Group of America by 23.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider's stock worth $6,527,000 after buying an additional 6,144 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Reinsurance Group of America by 27.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 164,046 shares of the insurance provider's stock worth $33,674,000 after buying an additional 35,750 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Barclays upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, October 3rd. TD Cowen assumed coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a "hold" rating and a $235.00 target price for the company. Finally, Raymond James raised their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a "strong-buy" rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.77.

Reinsurance Group of America Stock Up 0.8 %

Shares of NYSE RGA traded up $1.77 during trading on Tuesday, hitting $210.88. 237,130 shares of the company traded hands, compared to its average volume of 360,014. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 19.36 and a beta of 0.93. The business's fifty day moving average is $219.29 and its 200 day moving average is $214.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.82 and a fifty-two week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.57 earnings per share. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.69%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.69%.

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.