Norges Bank Buys New Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Norges Bank purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 814,875 shares of the insurance provider’s stock, valued at approximately $174,082,000. Norges Bank owned 1.24% of Reinsurance Group of America as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RGA. Raymond James Financial Inc. acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $48,724,000. JPMorgan Chase & Co. increased its holdings in shares of 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 valued at $79,512,000 after purchasing an additional 117,829 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Reinsurance Group of America by 234.7% in the fourth quarter. LPL Financial LLC now owns 108,229 shares of the insurance provider’s stock valued at $23,121,000 after purchasing an additional 75,891 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of 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 valued at $14,502,000 after purchasing an additional 65,536 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Reinsurance Group of America by 121.1% during the 4th 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 last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Wells Fargo & Company increased their target price on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Piper Sandler lowered their price objective 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. Finally, Morgan Stanley reduced their target price on shares of 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. Three research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.85.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $195.69 on Monday. The business has a fifty day simple moving average of $204.94 and a 200 day simple moving average of $213.54. The company has a market cap of $12.92 billion, a P/E ratio of 18.22 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 twelve month low of $178.84 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly 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 net margin of 3.24% and a return on equity of 14.55%. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.82%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 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.