Morton Community Bank Has $4.81 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Morton Community Bank lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,498 shares of the insurance provider’s stock after selling 245 shares during the period. Reinsurance Group of America accounts for 1.3% of Morton Community Bank’s holdings, making the stock its 17th largest holding. Morton Community Bank’s holdings in Reinsurance Group of America were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the period. Strengthening Families & Communities LLC acquired a new position in Reinsurance Group of America in the third quarter valued at $36,000. Capital Performance Advisors LLP acquired a new position in Reinsurance Group of America in the third quarter valued at $37,000. Spire Wealth Management lifted its holdings in Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Reinsurance Group of America in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RGA. Piper Sandler decreased their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of 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. Wells Fargo & Company boosted their target price on shares of 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. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Finally, Barclays decreased their target price on shares of 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. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $190.80 on Monday. The stock has a market capitalization of $12.60 billion, a P/E ratio of 17.77 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $212.57 and its 200 day moving average is $215.82. Reinsurance Group of America, Incorporated has a 12 month low of $178.84 and a 12 month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its 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 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 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

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 $0.89 dividend. 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 payout ratio is 33.15%.

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.