Convergence Investment Partners LLC Increases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Convergence Investment Partners LLC grew its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 43.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,087 shares of the insurance provider’s stock after purchasing an additional 1,850 shares during the quarter. Convergence Investment Partners LLC’s holdings in Reinsurance Group of America were worth $1,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management raised its stake in shares of Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after buying an additional 57 shares during the period. Baron Wealth Management LLC raised its stake in Reinsurance Group of America by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after acquiring an additional 64 shares during the period. Tectonic Advisors LLC lifted its holdings in Reinsurance Group of America by 3.0% during the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock valued at $514,000 after purchasing an additional 69 shares in the last quarter. Mount Lucas Management LP boosted its position in shares of Reinsurance Group of America by 2.9% in the third quarter. Mount Lucas Management LP now owns 2,592 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 72 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of Reinsurance Group of America by 0.5% in the fourth quarter. Inspire Investing LLC now owns 14,224 shares of the insurance provider’s stock worth $3,039,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RGA. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $244.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley dropped 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 note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price 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 dropped their price target on 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. Finally, Royal Bank of Canada reiterated 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. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.54.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $199.41 on Thursday. The firm has a fifty day simple moving average of $215.90 and a two-hundred day simple moving average of $216.41. 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 has a market capitalization of $13.13 billion, a P/E ratio of 18.57 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 52 week low of $167.80 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share 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, analysts expect that Reinsurance Group of America, Incorporated will post 22.88 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. 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.