Norges Bank purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 814,875 shares of the insurance provider's stock, valued at approximately $174,082,000. Norges Bank owned 1.24% of Reinsurance Group of America as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its position in 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. Spire Wealth Management boosted its holdings in Reinsurance Group of America by 39.0% in 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. SBI Securities Co. Ltd. purchased a new position in Reinsurance Group of America in the 4th quarter valued at approximately $44,000. Versant Capital Management Inc raised its holdings 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 valued at $62,000 after acquiring an additional 80 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth $70,000. Hedge funds and other institutional investors own 95.11% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on RGA. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $232.00 to $237.00 in a research report on Wednesday. Piper Sandler reduced their target price on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a report on Monday, February 10th. UBS Group reissued a "neutral" rating and issued a $216.00 price target (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $245.00 target price 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 given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average price target of $230.38.
Get Our Latest Research Report on Reinsurance Group of America
Reinsurance Group of America Price Performance
NYSE:RGA traded down $14.84 during midday trading on Friday, hitting $172.27. The company had a trading volume of 874,362 shares, compared to its average volume of 403,387. The company has a market capitalization of $11.37 billion, a PE ratio of 16.04 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 52-week low of $169.10 and a 52-week high of $233.81. The stock's fifty day moving average price is $201.62 and its 200-day moving average price is $212.73.
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 the consensus estimate 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%. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.
Reinsurance Group of America Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio is currently 33.15%.
Reinsurance Group of America Company 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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