Maryland State Retirement & Pension System Sells 245 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Maryland State Retirement & Pension System trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,507 shares of the insurance provider’s stock after selling 245 shares during the period. Maryland State Retirement & Pension System’s holdings in Reinsurance Group of America were worth $749,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Xponance Inc. increased its stake in Reinsurance Group of America by 7.0% in the 4th quarter. Xponance Inc. now owns 7,840 shares of the insurance provider’s stock worth $1,675,000 after buying an additional 516 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Reinsurance Group of America by 9.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 32,241 shares of the insurance provider’s stock worth $6,888,000 after purchasing an additional 2,729 shares in the last quarter. Avalon Trust Co bought a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $99,000. Natixis Advisors LLC lifted its holdings in Reinsurance Group of America by 4.5% in the 4th quarter. Natixis Advisors LLC now owns 202,349 shares of the insurance provider’s stock worth $43,228,000 after purchasing an additional 8,651 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd boosted its stake in Reinsurance Group of America by 126.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 4,075 shares of the insurance provider’s stock worth $871,000 after purchasing an additional 2,275 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 3.5 %

Shares of RGA opened at $198.54 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $206.73 and a 200 day moving average of $213.86. The company has a market cap of $13.11 billion, a PE ratio of 18.49 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 52-week low of $178.84 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released 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%. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RGA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Piper Sandler decreased their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI cut their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Barclays decreased 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. Finally, JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.85.

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.