Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Holdings Cut by Balyasny Asset Management LLC

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) by 23.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,709 shares of the insurance provider’s stock after selling 74,584 shares during the quarter. Balyasny Asset Management LLC owned about 0.36% of Reinsurance Group of America worth $30,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. FinTrust Capital Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $37,000. IFP Advisors Inc lifted its position in shares of Reinsurance Group of America by 245.6% during the 3rd quarter. IFP Advisors Inc now owns 356 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 253 shares during the last quarter. Signaturefd LLC lifted its position in shares of Reinsurance Group of America by 53.5% during the 3rd quarter. Signaturefd LLC now owns 310 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 108 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Reinsurance Group of America by 47.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 119 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Reinsurance Group of America by 130.1% during the 3rd quarter. Bessemer Group Inc. now owns 382 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 216 shares during the last quarter. 96.46% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $130.22 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.94. Reinsurance Group of America, Incorporated has a 1 year low of $100.79 and a 1 year high of $153.35. The business has a fifty day simple moving average of $145.28 and a 200 day simple moving average of $139.39. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 14.15 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The insurance provider reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.51 by ($0.52). Reinsurance Group of America had a return on equity of 16.86% and a net margin of 3.83%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the business posted ($0.56) earnings per share. Reinsurance Group of America’s revenue was up .4% on a year-over-year basis. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 15.8 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, February 13th. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Reinsurance Group of America’s dividend payout ratio is 34.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RGA. Citigroup increased their price objective on Reinsurance Group of America from $112.00 to $116.00 in a research report on Wednesday, November 16th. Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $145.00 to $170.00 in a research report on Tuesday, December 6th. Morgan Stanley increased their target price on Reinsurance Group of America from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. The Goldman Sachs Group increased their target price on Reinsurance Group of America from $147.00 to $162.00 and gave the company a “buy” rating in a report on Monday, January 9th. Finally, JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $136.00 to $141.00 and gave the company a “neutral” rating in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $150.89.

About Reinsurance Group of America

(Get Rating)

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.