Vestmark Advisory Solutions Inc. Invests $249,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Vestmark Advisory Solutions Inc. purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,166 shares of the insurance provider’s stock, valued at approximately $249,000.

Several other institutional investors have also modified their holdings of the stock. WCM Investment Management LLC raised its holdings in shares of Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after acquiring an additional 33,082 shares during the period. Geode Capital Management LLC raised its holdings in shares of Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after acquiring an additional 18,162 shares during the period. Stifel Financial Corp raised its holdings in shares of Reinsurance Group of America by 8.2% during the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after acquiring an additional 27,931 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Reinsurance Group of America by 47.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after acquiring an additional 117,829 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Reinsurance Group of America during the 4th quarter worth $48,724,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RGA shares. JPMorgan Chase & Co. raised 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. Morgan Stanley cut their price objective 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. Barclays cut their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Finally, Piper Sandler cut their price objective 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $190.80 on Monday. Reinsurance Group of America, Incorporated has a 1-year low of $178.84 and a 1-year high of $233.81. The company has a market cap of $12.60 billion, a P/E ratio of 17.77 and a beta of 0.91. 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 stock has a 50-day moving average of $212.57 and a two-hundred day moving average of $215.82.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 EPS 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, analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 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.