Envestnet Portfolio Solutions Inc. Purchases 2,729 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Envestnet Portfolio Solutions Inc. lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,241 shares of the insurance provider’s stock after acquiring an additional 2,729 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Reinsurance Group of America were worth $6,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Reinsurance Group of America during the fourth quarter valued at about $48,724,000. JPMorgan Chase & Co. grew its position in Reinsurance Group of America by 47.7% during the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after buying an additional 117,829 shares during the period. CIBC Asset Management Inc grew its position in Reinsurance Group of America by 2,791.1% during the fourth quarter. CIBC Asset Management Inc now owns 67,884 shares of the insurance provider’s stock valued at $14,502,000 after buying an additional 65,536 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America during the third quarter valued at about $11,803,000. Finally, Handelsbanken Fonder AB grew its position in Reinsurance Group of America by 121.1% during the fourth quarter. Handelsbanken Fonder AB now owns 97,300 shares of the insurance provider’s stock valued at $20,786,000 after buying an additional 53,300 shares during the period. Institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RGA shares. Morgan Stanley reduced their price target on shares of 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 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. Piper Sandler cut their target price on shares of 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. Wells Fargo & Company increased 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. Finally, Evercore ISI cut their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.85.

Reinsurance Group of America Trading Up 0.7 %

Shares of Reinsurance Group of America stock opened at $192.82 on Tuesday. Reinsurance Group of America, Incorporated has a 12-month low of $178.84 and a 12-month high of $233.81. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 17.95 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 company’s 50-day moving average price is $209.37 and its 200-day moving average price is $214.78.

Reinsurance Group of America (NYSE:RGA) last announced 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 net margin of 3.24% and a return on equity of 14.55%. On average, equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

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 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Reinsurance Group of America Company 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.