Nordea Investment Management AB Cuts Holdings in Reinsurance Group of America, Incorporated $RGA

Nordea Investment Management AB trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 549,909 shares of the insurance provider’s stock after selling 20,477 shares during the quarter. Nordea Investment Management AB owned about 0.83% of Reinsurance Group of America worth $104,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. increased its stake in Reinsurance Group of America by 32.4% in the 2nd quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Reinsurance Group of America by 93.9% during the 2nd quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 138 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of Reinsurance Group of America in the second quarter valued at $57,000. True Wealth Design LLC increased its position in Reinsurance Group of America by 1,323.8% in the second quarter. True Wealth Design LLC now owns 299 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 278 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its stake in Reinsurance Group of America by 429.8% during the second quarter. HighMark Wealth Management LLC now owns 302 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 245 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $197.72 on Wednesday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $232.97. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $196.37 and a 200-day moving average price of $193.17. The firm has a market capitalization of $12.99 billion, a PE ratio of 15.21 and a beta of 0.55.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating the consensus estimate of $5.80 by $0.57. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.13 EPS. As a group, equities research analysts forecast 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, November 25th. Stockholders of record on Tuesday, November 11th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, November 10th. Reinsurance Group of America’s dividend payout ratio is presently 28.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RGA shares. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Raymond James Financial downgraded shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $237.00 to $238.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley set a $208.00 price objective on Reinsurance Group of America in a research note on Monday, December 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.