Proficio Capital Partners LLC Purchases New Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Proficio Capital Partners LLC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,590 shares of the insurance provider's stock, valued at approximately $8,671,000. Proficio Capital Partners LLC owned about 0.06% of Reinsurance Group of America at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its position in Reinsurance Group of America by 1.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 31,214 shares of the insurance provider's stock worth $6,668,000 after acquiring an additional 396 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the fourth quarter worth $132,000. Impact Investors Inc purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at $1,392,000. Amalgamated Bank increased its stake in Reinsurance Group of America by 0.3% in the fourth quarter. Amalgamated Bank now owns 31,493 shares of the insurance provider's stock valued at $6,728,000 after purchasing an additional 109 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Reinsurance Group of America by 121.1% during the fourth quarter. Handelsbanken Fonder AB now owns 97,300 shares of the insurance provider's stock worth $20,786,000 after buying an additional 53,300 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on RGA shares. Wells Fargo & Company lifted their price target 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. Barclays lowered their target price on shares of 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. Morgan Stanley cut 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 note on Friday, February 14th. 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. Finally, Piper Sandler cut their target price on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Three 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.62.

Remove Ads

Reinsurance Group of America Stock Down 1.1 %

Reinsurance Group of America stock traded down $2.16 during midday trading on Thursday, hitting $193.39. 178,333 shares of the company were exchanged, compared to its average volume of 527,130. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a fifty-two week low of $178.84 and a fifty-two week high of $233.81. The company's fifty day moving average price is $213.39 and its 200-day moving average price is $215.99. The company has a market cap of $12.77 billion, a PE ratio of 18.04 and a beta of 0.93.

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

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders 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 dividend yield of 1.84%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America's payout ratio is 33.15%.

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.