Sit Investment Associates Inc. Sells 2,930 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Sit Investment Associates Inc. trimmed its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,000 shares of the insurance provider's stock after selling 2,930 shares during the period. Sit Investment Associates Inc. owned about 0.07% of Reinsurance Group of America worth $10,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Reinsurance Group of America by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider's stock worth $1,541,121,000 after purchasing an additional 51,733 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Reinsurance Group of America by 1.4% during the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider's stock valued at $526,911,000 after buying an additional 33,082 shares in the last quarter. Alliancebernstein L.P. raised its position in Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider's stock valued at $239,911,000 after buying an additional 893,537 shares during the period. Geode Capital Management LLC lifted its stake in Reinsurance Group of America by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider's stock worth $238,031,000 after acquiring an additional 4,106 shares in the last quarter. Finally, Norges Bank acquired a new stake in Reinsurance Group of America during the 4th quarter worth about $174,082,000. Institutional investors and hedge funds own 95.11% of the company's stock.

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Reinsurance Group of America Stock Performance

RGA traded up $0.62 on Friday, hitting $174.19. The company had a trading volume of 143,342 shares, compared to its average volume of 405,773. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 16.16 and a beta of 0.70. 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 company's fifty day moving average price is $194.91 and its 200 day moving average price is $210.83. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts' consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio is currently 33.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Piper Sandler cut their target price on shares of 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. Barclays lowered their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company cut their price objective on Reinsurance Group of America from $264.00 to $246.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on Reinsurance Group of America from $275.00 to $250.00 and set an "outperform" rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $230.15.

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.