Keybank National Association OH acquired a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,278 shares of the insurance provider’s stock, valued at approximately $324,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in RGA. Vanguard Group Inc. grew its stake in Reinsurance Group of America by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,115,698 shares of the insurance provider’s stock valued at $895,227,000 after acquiring an additional 88,957 shares during the period. State Street Corp grew its stake in Reinsurance Group of America by 4.7% in the 1st quarter. State Street Corp now owns 2,411,086 shares of the insurance provider’s stock valued at $263,917,000 after acquiring an additional 108,922 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Reinsurance Group of America by 7.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,670,053 shares of the insurance provider’s stock valued at $210,109,000 after acquiring an additional 116,382 shares during the period. Dimensional Fund Advisors LP grew its stake in Reinsurance Group of America by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,518,615 shares of the insurance provider’s stock valued at $191,056,000 after acquiring an additional 32,087 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Reinsurance Group of America by 16.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 743,199 shares of the insurance provider’s stock valued at $81,351,000 after acquiring an additional 102,277 shares during the period. Institutional investors and hedge funds own 96.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on RGA. Morgan Stanley raised their price objective on Reinsurance Group of America from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. Citigroup upgraded Reinsurance Group of America from a “sell” rating to a “buy” rating and raised their price objective for the company from $133.00 to $158.00 in a report on Wednesday, March 15th. Evercore ISI upgraded Reinsurance Group of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $148.00 to $167.00 in a report on Thursday, January 5th. Barclays raised their price objective on Reinsurance Group of America from $141.00 to $146.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.67.
Reinsurance Group of America Stock Down 1.1 %
Reinsurance Group of America (NYSE:RGA – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The insurance provider reported $2.99 EPS for the quarter, missing the consensus estimate of $3.51 by ($0.52). The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Reinsurance Group of America had a return on equity of 16.86% and a net margin of 3.83%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.56) EPS. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 15.64 earnings per share for the current year.
Reinsurance Group of America Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.20 annualized dividend and a yield of 2.28%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 34.78%.
Reinsurance Group of America Profile
Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.
Featured Stories
- Get a free copy of the StockNews.com research report on Reinsurance Group of America (RGA)
- 2 Industrial Strength Dividend Stocks Melting Up
- Proctor & Gamble Is Going To Set A New High
- AutoNation’s Plans are Keeping Analysts Around
- Netflix Increases Buybacks: Can It Complete A Reversal In 2023?
- Why Philip Morris May Continue to Beat the Broader Market?
Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating).
Receive News & Ratings for Reinsurance Group of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America and related companies with MarketBeat.com's FREE daily email newsletter.
