Convergence Investment Partners LLC Boosts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Convergence Investment Partners LLC grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,087 shares of the insurance provider’s stock after purchasing an additional 1,850 shares during the period. Convergence Investment Partners LLC’s holdings in Reinsurance Group of America were worth $1,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA increased its stake in shares of 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 buying an additional 120 shares during the period. Strengthening Families & Communities LLC bought a new position in Reinsurance Group of America during the 3rd quarter worth about $36,000. Capital Performance Advisors LLP purchased a new position in Reinsurance Group of America during the 3rd quarter valued at about $37,000. Spire Wealth Management raised its holdings in shares of Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 57 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of 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 worth $62,000 after purchasing an additional 80 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA opened at $199.41 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The company’s fifty day moving average price is $215.90 and its 200-day moving average price is $216.41. Reinsurance Group of America, Incorporated has a 1-year low of $167.80 and a 1-year high of $233.81. The firm has a market capitalization of $13.13 billion, a PE ratio of 18.57 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate 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 research analysts predict that Reinsurance Group of America, Incorporated will post 22.88 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 33.15%.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. Morgan Stanley dropped their price objective 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. Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $244.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.54.

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.