CIBC Asset Management Inc Purchases 65,536 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

CIBC Asset Management Inc raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 2,791.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,884 shares of the insurance provider's stock after buying an additional 65,536 shares during the quarter. CIBC Asset Management Inc owned about 0.10% of Reinsurance Group of America worth $14,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RGA. Private Trust Co. NA increased its stake in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Strengthening Families & Communities LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $36,000. Capital Performance Advisors LLP bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $37,000. Spire Wealth Management raised its stake in Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after buying an additional 57 shares during the period. Finally, Versant Capital Management Inc raised its stake in 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 worth $62,000 after buying an additional 80 shares during the period. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Down 3.4 %

RGA traded down $6.72 on Friday, hitting $189.40. 831,733 shares of the company were exchanged, compared to its average volume of 549,036. The stock's fifty day moving average is $215.37 and its 200-day moving average is $216.15. Reinsurance Group of America, Incorporated has a 12 month low of $169.08 and a 12 month 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 company has a market cap of $12.47 billion, a PE ratio of 17.63 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.88 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America's payout ratio is presently 33.15%.

Analysts Set New Price Targets

RGA has been the subject of several recent analyst reports. Barclays lowered 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. Wells Fargo & Company increased their target price on Reinsurance Group of America from $244.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Piper Sandler lowered their price objective on shares of 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. Finally, Royal Bank of Canada restated an "outperform" rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $229.54.

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.