Vestcor Inc Raises Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Vestcor Inc lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 296.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,923 shares of the insurance provider's stock after acquiring an additional 3,680 shares during the quarter. Vestcor Inc's holdings in Reinsurance Group of America were worth $1,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RGA. Oppenheimer & Co. Inc. purchased a new stake in Reinsurance Group of America in the third quarter worth $242,000. KBC Group NV increased its position in Reinsurance Group of America by 14.7% in the third quarter. KBC Group NV now owns 1,705 shares of the insurance provider's stock worth $371,000 after buying an additional 219 shares during the last quarter. CIBC Asset Management Inc increased its position in Reinsurance Group of America by 5.5% in the third 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. Empowered Funds LLC purchased a new stake in Reinsurance Group of America in the third quarter worth $4,912,000. Finally, Natixis Advisors LLC increased its position in Reinsurance Group of America by 31.1% in the third quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider's stock worth $42,201,000 after buying an additional 45,924 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

RGA stock traded up $1.50 during mid-day trading on Wednesday, hitting $192.12. 427,674 shares of the stock were exchanged, compared to its average volume of 523,211. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The business has a fifty day moving average price of $208.75 and a 200 day moving average price of $214.57. Reinsurance Group of America, Incorporated has a 12 month low of $178.84 and a 12 month high of $233.81. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 17.89 and a beta of 0.91.

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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%. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio (DPR) is currently 33.15%.

Analysts Set New Price Targets

RGA has been the subject of several recent research reports. Evercore ISI reduced their price target on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Piper Sandler reduced their price target on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Morgan Stanley reduced their price target on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. 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 research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.85.

About Reinsurance Group of America

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.