Banco Santander S.A. Sells 3,016 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Banco Santander S.A. lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.4% in the fourth quarter, Holdings Channel reports. The firm owned 52,927 shares of the insurance provider’s stock after selling 3,016 shares during the period. Banco Santander S.A.’s holdings in Reinsurance Group of America were worth $11,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its holdings in shares of Reinsurance Group of America by 15.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock worth $25,297,000 after buying an additional 15,289 shares during the period. Principal Financial Group Inc. boosted its holdings in Reinsurance Group of America by 19.2% during the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after acquiring an additional 29,352 shares during the period. Martin Capital Partners LLC bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $1,788,000. Nordea Investment Management AB boosted its stake in Reinsurance Group of America by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after purchasing an additional 4,119 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Reinsurance Group of America by 23.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after purchasing an additional 2,768 shares during the period. Institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

RGA has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley reduced their price objective on 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.62.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $190.80 on Friday. The firm has a market cap of $12.60 billion, a PE ratio of 17.77 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12 month low of $178.84 and a 12 month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $212.57 and its two-hundred day moving average price is $215.71.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

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

Reinsurance Group of America 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.