Fmr LLC Grows Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Fmr LLC boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,640,788 shares of the insurance provider’s stock after buying an additional 564,693 shares during the quarter. Fmr LLC owned approximately 8.56% of Reinsurance Group of America worth $1,205,042,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in Reinsurance Group of America in the third quarter valued at $427,000. Hilltop Holdings Inc. purchased a new stake in Reinsurance Group of America during the third quarter valued at about $228,000. HighTower Advisors LLC boosted its stake in Reinsurance Group of America by 13.3% in the 3rd quarter. HighTower Advisors LLC now owns 51,855 shares of the insurance provider’s stock worth $11,266,000 after purchasing an additional 6,101 shares during the period. Quantinno Capital Management LP boosted its position in shares of Reinsurance Group of America by 18.7% in the third quarter. Quantinno Capital Management LP now owns 20,478 shares of the insurance provider’s stock worth $4,462,000 after buying an additional 3,226 shares during the period. Finally, MML Investors Services LLC increased its holdings in shares of Reinsurance Group of America by 91.7% in the 3rd quarter. MML Investors Services LLC now owns 33,321 shares of the insurance provider’s stock valued at $7,260,000 after purchasing an additional 15,943 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

RGA opened at $172.27 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $201.62 and its two-hundred day moving average price is $212.66. The firm has a market capitalization of $11.37 billion, a P/E ratio of 16.04 and a beta of 0.70. Reinsurance Group of America, Incorporated has a 12-month low of $150.00 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data 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, equities analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is presently 33.15%.

Analysts Set New Price Targets

Several brokerages have weighed in on RGA. Evercore ISI dropped their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Piper Sandler lowered their target price on shares of 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. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.38.

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.