Reinsurance Group of America, Incorporated (NYSE:RGA) Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,888 shares of the insurance provider’s stock after selling 2,554 shares during the quarter. New York State Common Retirement Fund owned 0.29% of Reinsurance Group of America worth $40,139,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RGA. WCM Investment Management LLC lifted its stake in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after buying an additional 2,260,605 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $79,512,000 after purchasing an additional 117,829 shares in the last quarter. CIBC Asset Management Inc lifted 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 worth $14,502,000 after purchasing an additional 65,536 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Reinsurance Group of America in the third quarter worth approximately $11,803,000. Finally, Bank of Montreal Can lifted its position in shares of Reinsurance Group of America by 146.2% in the third quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider’s stock worth $16,690,000 after purchasing an additional 45,972 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RGA shares. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. JPMorgan Chase & Co. increased their price target on shares of 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. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $244.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler cut their price objective 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $229.54.

Reinsurance Group of America Trading Down 1.6 %

Shares of RGA stock opened at $195.96 on Friday. Reinsurance Group of America, Incorporated has a 12 month low of $168.51 and a 12 month high of $233.81. 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 business’s 50 day moving average is $215.68 and its two-hundred day moving average is $216.29. The company has a market cap of $12.91 billion, a PE ratio of 18.25 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate 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%. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.88 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.82%. 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.