Corebridge Financial Inc. Sells 3,353 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Corebridge Financial Inc. reduced its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.3% in the 4th quarter, Holdings Channel reports. The fund owned 74,526 shares of the insurance provider’s stock after selling 3,353 shares during the quarter. Corebridge Financial Inc.’s holdings in Reinsurance Group of America were worth $15,921,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Reinsurance Group of America by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock valued at $1,541,121,000 after purchasing an additional 51,733 shares during the period. WCM Investment Management LLC boosted its holdings in shares of Reinsurance Group of America by 1.4% in 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 during the period. Geode Capital Management LLC increased its position in shares of Reinsurance Group of America by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after acquiring an additional 18,162 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Reinsurance Group of America by 8.2% during the third quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after acquiring an additional 27,931 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after acquiring an additional 117,829 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RGA. Piper Sandler lowered their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Barclays dropped their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Morgan Stanley reduced their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $198.54 on Tuesday. The company has a market cap of $13.11 billion, a PE ratio of 18.49 and a beta of 0.91. The firm has a 50-day moving average of $206.73 and a 200-day moving average of $213.86. Reinsurance Group of America, Incorporated has a one year low of $178.84 and a one year high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS 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%. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is presently 33.15%.

Reinsurance Group of America 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.