Morton Community Bank Sells 245 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Morton Community Bank lowered its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,498 shares of the insurance provider’s stock after selling 245 shares during the period. Reinsurance Group of America comprises about 1.3% of Morton Community Bank’s investment portfolio, making the stock its 17th biggest position. Morton Community Bank’s holdings in Reinsurance Group of America were worth $4,806,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC boosted its position in Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after buying an additional 33,082 shares during the period. Geode Capital Management LLC boosted its position in Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after buying an additional 18,162 shares during the period. Stifel Financial Corp lifted its position in shares of Reinsurance Group of America by 8.2% in the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after purchasing an additional 27,931 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after purchasing an additional 117,829 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Reinsurance Group of America in the 4th quarter worth about $48,724,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $190.80 on Monday. The company has a 50 day moving average price of $212.57 and a 200-day moving average price of $215.82. Reinsurance Group of America, Incorporated has a 52 week low of $178.84 and a 52 week high of $233.81. The firm has a market capitalization of $12.60 billion, a PE ratio of 17.77 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced 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%. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RGA. Morgan Stanley dropped 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 report on Friday, February 14th. Barclays dropped their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Piper Sandler lowered their price target on shares of 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, JPMorgan Chase & Co. lifted 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 research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.62.

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.