Federated Hermes Inc. Sells 31,001 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Federated Hermes Inc. lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 421,585 shares of the insurance provider’s stock after selling 31,001 shares during the quarter. Federated Hermes Inc. owned approximately 0.64% of Reinsurance Group of America worth $86,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its stake in Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Reinsurance Group of America by 22.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,428 shares of the insurance provider’s stock valued at $1,529,000 after buying an additional 1,339 shares during the period. Vest Financial LLC raised its stake in Reinsurance Group of America by 17.5% in the second quarter. Vest Financial LLC now owns 5,322 shares of the insurance provider’s stock valued at $1,092,000 after buying an additional 794 shares during the period. Qsemble Capital Management LP lifted its position in shares of Reinsurance Group of America by 69.3% in the second quarter. Qsemble Capital Management LP now owns 3,508 shares of the insurance provider’s stock valued at $720,000 after buying an additional 1,436 shares during the last quarter. Finally, Vaughan David Investments LLC IL boosted its stake in shares of Reinsurance Group of America by 0.3% during the 2nd quarter. Vaughan David Investments LLC IL now owns 245,731 shares of the insurance provider’s stock worth $50,441,000 after acquiring an additional 773 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.7 %

Shares of NYSE:RGA opened at $213.56 on Friday. The company has a market capitalization of $14.07 billion, a P/E ratio of 16.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The business’s 50 day simple moving average is $212.08 and its 200 day simple moving average is $201.77. Reinsurance Group of America, Incorporated has a 1 year low of $140.39 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. Reinsurance Group of America’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.40 EPS. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America’s payout ratio is presently 27.66%.

Wall Street Analysts Forecast Growth

RGA has been the subject of several research reports. StockNews.com downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Morgan Stanley cut their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Citigroup upped their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. UBS Group increased their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Barclays initiated coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.33.

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.