Globeflex Capital L P decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,022 shares of the insurance provider's stock after selling 2,984 shares during the quarter. Globeflex Capital L P's holdings in Reinsurance Group of America were worth $1,500,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its position in shares of Reinsurance Group of America by 30.3% in the third quarter. Crossmark Global Holdings Inc. now owns 5,233 shares of the insurance provider's stock worth $1,140,000 after purchasing an additional 1,216 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Reinsurance Group of America during the 3rd quarter worth about $242,000. KBC Group NV lifted its position in Reinsurance Group of America by 14.7% during the 3rd quarter. KBC Group NV now owns 1,705 shares of the insurance provider's stock worth $371,000 after buying an additional 219 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Reinsurance Group of America by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 2,348 shares of the insurance provider's stock worth $512,000 after buying an additional 123 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Reinsurance Group of America in the 3rd quarter valued at about $4,912,000. 95.11% of the stock is currently owned by institutional investors.
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 stock's fifty day simple moving average is $208.75 and its 200 day simple moving average is $214.57. 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.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.85%. Reinsurance Group of America's dividend payout ratio is presently 33.15%.
Analyst Ratings Changes
RGA has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Piper Sandler cut their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley lowered their price objective 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 note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.85.
Check Out Our Latest Analysis on RGA
About Reinsurance Group of America
(
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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