Axxcess Wealth Management LLC Sells 109 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Axxcess Wealth Management LLC trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,146 shares of the insurance provider’s stock after selling 109 shares during the period. Axxcess Wealth Management LLC’s holdings in Reinsurance Group of America were worth $245,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Eagle Asset Management Inc. raised its stake in shares of Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Reinsurance Group of America by 19.2% in the 4th quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after acquiring an additional 29,352 shares in the last quarter. Martin Capital Partners LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $1,788,000. Nordea Investment Management AB raised its stake in shares of Reinsurance Group of America by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after acquiring an additional 4,119 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Reinsurance Group of America by 23.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after acquiring an additional 2,768 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $191.53 on Friday. The stock’s fifty day simple moving average is $207.05 and its 200 day simple moving average is $214.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 17.83 and a beta of 0.91. Reinsurance Group of America, Incorporated has a one year low of $178.84 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RGA. Piper Sandler dropped their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. Morgan Stanley dropped their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Barclays dropped their price target 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. lifted their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $231.85.

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.