Convergence Investment Partners LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) during the fourth quarter, Holdings Channel reports. The firm purchased 6,185 shares of the insurance provider’s stock, valued at approximately $1,258,000.
A number of other large investors have also added to or reduced their stakes in RGA. Nordea Investment Management AB increased its holdings in shares of Reinsurance Group of America by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider’s stock worth $116,597,000 after buying an additional 20,722 shares during the period. ProShare Advisors LLC increased its holdings in shares of Reinsurance Group of America by 3.2% in the third quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider’s stock worth $34,999,000 after buying an additional 5,586 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in shares of Reinsurance Group of America by 94.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock worth $3,555,000 after buying an additional 8,971 shares during the period. Nuance Investments LLC increased its holdings in shares of Reinsurance Group of America by 30.6% in the third quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider’s stock worth $9,094,000 after buying an additional 11,095 shares during the period. Finally, Algebris UK Ltd. purchased a new position in shares of Reinsurance Group of America in the third quarter worth about $10,750,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.
Reinsurance Group of America Stock Down 0.5%
Shares of NYSE:RGA opened at $210.01 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $229.21. The company has a market cap of $13.76 billion, a PE ratio of 11.38 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s 50-day moving average is $207.02 and its 200 day moving average is $202.95.
Reinsurance Group of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Reinsurance Group of America’s payout ratio is presently 20.15%.
Analyst Ratings Changes
Several research analysts have recently commented on RGA shares. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Barclays lifted their price objective on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. UBS Group lifted their price objective on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Piper Sandler decreased their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $249.00.
Get Our Latest Stock Analysis on Reinsurance Group of America
Reinsurance Group of America Company Profile
Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.
RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.
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