Principal Financial Group Inc. Decreases Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 30.4% during the 3rd quarter, according to the company in 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 quarter. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $33,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Reinsurance Group of America by 22.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Reinsurance Group of America by 50.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 2,524 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Reinsurance Group of America by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock worth $13,000,000 after buying an additional 3,247 shares during the last quarter. M&G Plc lifted its stake in shares of Reinsurance Group of America by 5.0% during the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after buying an additional 4,025 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Reinsurance Group of America in the 2nd quarter valued at $1,925,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Raymond James raised their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.38.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $228.24 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a 52 week low of $156.98 and a 52 week high of $230.39. The stock’s 50-day moving average price is $216.09 and its 200-day moving average price is $210.54. The stock has a market capitalization of $15.03 billion, a PE ratio of 20.96 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the business earned $5.57 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given 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 32.69%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

About Reinsurance Group of America

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.