Raymond James Financial Inc. Invests $48.72 Million in Reinsurance Group of America, Incorporated (NYSE:RGA)

Raymond James Financial Inc. acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 228,078 shares of the insurance provider's stock, valued at approximately $48,724,000. Raymond James Financial Inc. owned 0.35% of Reinsurance Group of America at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RGA. Private Trust Co. NA increased its stake in shares of 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 worth $34,000 after acquiring an additional 120 shares during the period. Strengthening Families & Communities LLC purchased a new stake in Reinsurance Group of America during the third quarter worth $36,000. Spire Wealth Management boosted its holdings in Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after buying an additional 57 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Reinsurance Group of America during the fourth quarter worth $44,000. Finally, Versant Capital Management Inc boosted its holdings in Reinsurance Group of America by 38.1% during the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock worth $62,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RGA. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an "outperform" rating and set a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Morgan Stanley decreased 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 report on Friday, February 14th. Finally, Barclays decreased their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $229.62.

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Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $187.69 on Wednesday. The firm has a 50-day simple moving average of $211.52 and a 200-day simple moving average of $215.48. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 17.48 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 $178.84 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America's payout ratio is currently 33.15%.

Reinsurance Group of America 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.

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