Connable Office Inc. Has $700,000 Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Connable Office Inc. cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,408 shares of the insurance provider’s stock after selling 360 shares during the quarter. Connable Office Inc.’s holdings in Reinsurance Group of America were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RGA. Covestor Ltd raised its stake in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 63 shares in the last quarter. Fiduciary Family Office LLC increased its position in shares of Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 76 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Reinsurance Group of America by 16.5% during the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock valued at $115,000 after purchasing an additional 79 shares during the last quarter. Hilltop National Bank boosted its position in Reinsurance Group of America by 13.1% in the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after buying an additional 82 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Reinsurance Group of America by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after buying an additional 92 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $212.24 on Monday. Reinsurance Group of America, Incorporated has a 52 week low of $138.61 and a 52 week high of $227.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 16.49 and a beta of 0.91. The firm has a fifty day moving average of $211.40 and a two-hundred day moving average of $200.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.40 earnings per share. As a group, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.89 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. Reinsurance Group of America’s payout ratio is 27.66%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RGA. Evercore ISI raised their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Piper Sandler lifted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Morgan Stanley decreased their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Royal Bank of Canada lifted their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Company 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.