Prudential PLC lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,459 shares of the insurance provider's stock after selling 11,146 shares during the period. Prudential PLC's holdings in Reinsurance Group of America were worth $3,516,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in RGA. Spire Wealth Management increased its holdings in shares of Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after acquiring an additional 57 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $44,000. Versant Capital Management Inc grew its position in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock valued at $62,000 after purchasing an additional 80 shares during the period. Private Trust Co. NA increased its stake in Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock worth $66,000 after purchasing an additional 155 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Reinsurance Group of America during the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 95.11% of the company's stock.
Wall Street Analysts Forecast Growth
RGA has been the subject of several research analyst reports. Barclays reduced their price target 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. Evercore ISI reduced their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. UBS Group reissued a "neutral" rating and issued a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Morgan Stanley cut their price target on 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. Finally, Wells Fargo & Company decreased their price objective on Reinsurance Group of America from $264.00 to $246.00 and set an "overweight" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.15.
Get Our Latest Stock Report on RGA
Reinsurance Group of America Stock Up 2.4 %
Shares of NYSE:RGA traded up $4.19 during trading on Friday, hitting $177.76. 557,958 shares of the company were exchanged, compared to its average volume of 407,418. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 16.55 and a beta of 0.70. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a fifty day moving average price of $193.93 and a two-hundred day moving average price of $210.55.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued 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%. As a group, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.
Reinsurance Group of America Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.00%. Reinsurance Group of America's payout ratio is 33.15%.
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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