Arizona State Retirement System Increases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Arizona State Retirement System lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,113 shares of the insurance provider’s stock after buying an additional 168 shares during the period. Arizona State Retirement System’s holdings in Reinsurance Group of America were worth $4,083,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. WCM Investment Management LLC boosted its position in Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Reinsurance Group of America by 47.7% in the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after purchasing an additional 117,829 shares during the last quarter. CIBC Asset Management Inc boosted its position in Reinsurance Group of America by 2,791.1% in the fourth quarter. CIBC Asset Management Inc now owns 67,884 shares of the insurance provider’s stock worth $14,502,000 after purchasing an additional 65,536 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Reinsurance Group of America in the third quarter worth $11,803,000. Finally, Handelsbanken Fonder AB boosted its position in Reinsurance Group of America by 121.1% in the fourth quarter. Handelsbanken Fonder AB now owns 97,300 shares of the insurance provider’s stock worth $20,786,000 after purchasing an additional 53,300 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $190.80 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America, Incorporated has a 52-week low of $178.84 and a 52-week high of $233.81. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 17.77 and a beta of 0.91. The business’s fifty day moving average is $212.57 and its 200 day moving average is $215.77.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced 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 1.87%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Ratings Changes

Several research analysts have weighed in on RGA shares. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Piper Sandler lowered 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 note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Morgan Stanley lowered their target price on 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. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.62.

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.