KLP Kapitalforvaltning AS Makes New $3.42 Million Investment in Reinsurance Group of America, Incorporated (NYSE:RGA)

KLP Kapitalforvaltning AS bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,000 shares of the insurance provider’s stock, valued at approximately $3,418,000.

Several other large investors also recently modified their holdings of RGA. Private Trust Co. NA grew its holdings in 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 valued at $34,000 after purchasing an additional 120 shares during the period. Spire Wealth Management grew its stake in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 57 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Reinsurance Group of America in the 4th quarter worth about $44,000. Versant Capital Management Inc raised its stake in Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 80 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Reinsurance Group of America during the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.1 %

RGA stock opened at $201.57 on Thursday. The company’s 50 day moving average is $205.94 and its 200 day moving average is $213.70. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 18.77 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. Reinsurance Group of America, Incorporated has a 1-year low of $178.84 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS 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%. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.77%. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on RGA. Morgan Stanley reduced their target price 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 note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wells Fargo & Company increased their target price on 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. Piper Sandler reduced 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 report on Monday, February 10th. Finally, Evercore ISI dropped their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

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.