Catalyst Funds Management Pty Ltd increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 126.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,075 shares of the insurance provider's stock after purchasing an additional 2,275 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Reinsurance Group of America were worth $871,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Private Trust Co. NA grew its stake in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider's stock worth $34,000 after purchasing an additional 120 shares during the period. Strengthening Families & Communities LLC acquired a new stake in shares of Reinsurance Group of America during the third quarter worth $36,000. Spire Wealth Management grew its stake in shares of Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after purchasing an additional 57 shares during the period. SBI Securities Co. Ltd. acquired a new position in Reinsurance Group of America in the fourth quarter valued at about $44,000. Finally, Versant Capital Management Inc grew its stake in Reinsurance Group of America by 38.1% in the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock valued at $62,000 after acquiring an additional 80 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
RGA has been the subject of a number of research analyst reports. Barclays decreased their target price on Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Morgan Stanley decreased their target price on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Finally, Piper Sandler reduced their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and an average target price of $231.85.
Check Out Our Latest Analysis on RGA
Reinsurance Group of America Stock Performance
Shares of NYSE RGA traded up $1.50 during trading hours on Wednesday, reaching $192.12. 427,720 shares of the stock were exchanged, compared to its average volume of 378,516. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 17.89 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 52 week low of $178.84 and a 52 week high of $233.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The stock's fifty day simple moving average is $208.75 and its 200 day simple moving average is $214.57.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current 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 given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio is currently 33.15%.
Reinsurance Group of America Profile
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Free Report)
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.
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