Cetera Investment Advisers Purchases 3,721 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Cetera Investment Advisers raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,795 shares of the insurance provider’s stock after acquiring an additional 3,721 shares during the period. Cetera Investment Advisers’ holdings in Reinsurance Group of America were worth $5,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RGA. Barclays PLC grew its holdings in shares of Reinsurance Group of America by 5.5% in the third quarter. Barclays PLC now owns 102,790 shares of the insurance provider’s stock worth $22,396,000 after purchasing an additional 5,398 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Reinsurance Group of America by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,419 shares of the insurance provider’s stock valued at $1,181,000 after buying an additional 447 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at about $8,869,000. Park Avenue Securities LLC increased its holdings in shares of Reinsurance Group of America by 21.2% during the fourth quarter. Park Avenue Securities LLC now owns 15,744 shares of the insurance provider’s stock valued at $3,363,000 after acquiring an additional 2,759 shares in the last quarter. Finally, Occidental Asset Management LLC increased its holdings in shares of Reinsurance Group of America by 9.6% during the fourth quarter. Occidental Asset Management LLC now owns 6,531 shares of the insurance provider’s stock valued at $1,395,000 after acquiring an additional 571 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RGA has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Piper Sandler decreased their target price on 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. Morgan Stanley decreased their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $232.00 to $237.00 in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.69.

Reinsurance Group of America Stock Down 0.5%

Shares of NYSE:RGA opened at $206.63 on Wednesday. The business has a 50-day moving average price of $189.64 and a 200 day moving average price of $206.91. 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 has a market capitalization of $13.66 billion, a price-to-earnings ratio of 19.24 and a beta of 0.57. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. The firm had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.74 billion. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company’s quarterly revenue was down 17.0% on a year-over-year basis. During the same period last year, the company earned $6.02 EPS. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 30.04%.

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.