California Public Employees Retirement System Reduces Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

California Public Employees Retirement System lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 313,093 shares of the insurance provider's stock after selling 2,583 shares during the period. California Public Employees Retirement System owned approximately 0.48% of Reinsurance Group of America worth $66,886,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in shares of Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after acquiring an additional 57 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $44,000. Versant Capital Management Inc increased its position in shares of Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock valued at $62,000 after purchasing an additional 80 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Reinsurance Group of America by 99.4% in the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock worth $66,000 after purchasing an additional 155 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the fourth quarter worth approximately $70,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Reinsurance Group of America Price Performance

Shares of RGA traded down $14.84 during midday trading on Friday, hitting $172.27. 874,362 shares of the company traded hands, compared to its average volume of 403,866. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. The firm has a 50 day moving average of $201.62 and a 200-day moving average of $212.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America, Incorporated has a 52 week low of $170.19 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts' consensus estimates 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 forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio is presently 33.15%.

Wall Street Analyst Weigh In

RGA has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of 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. Piper Sandler decreased their target price on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised Reinsurance Group of America from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $232.00 to $237.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus target price of $230.38.

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.