Fmr LLC Acquires 564,693 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Fmr LLC grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.1% during the 4th quarter, HoldingsChannel reports. The firm owned 5,640,788 shares of the insurance provider’s stock after acquiring an additional 564,693 shares during the quarter. Fmr LLC owned approximately 0.09% of Reinsurance Group of America worth $1,205,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Federated Hermes Inc. increased its holdings in shares of Reinsurance Group of America by 4.3% during the fourth quarter. Federated Hermes Inc. now owns 449,638 shares of the insurance provider’s stock worth $96,056,000 after buying an additional 18,412 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Reinsurance Group of America by 16.7% during the 4th quarter. Russell Investments Group Ltd. now owns 272,742 shares of the insurance provider’s stock valued at $58,266,000 after purchasing an additional 39,095 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Reinsurance Group of America by 5.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 493,596 shares of the insurance provider’s stock valued at $105,447,000 after buying an additional 26,151 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of Reinsurance Group of America by 3.6% in the 4th quarter. Thoroughbred Financial Services LLC now owns 6,237 shares of the insurance provider’s stock worth $1,332,000 after purchasing an additional 215 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in Reinsurance Group of America by 293.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 47,288 shares of the insurance provider’s stock valued at $10,102,000 after purchasing an additional 35,269 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

NYSE RGA opened at $172.27 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. The stock has a 50-day moving average of $201.62 and a 200 day moving average of $212.66. Reinsurance Group of America, Incorporated has a one year low of $150.00 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (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%. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RGA. Evercore ISI lowered their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Piper Sandler decreased their price target 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. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, UBS Group reissued a “neutral” rating and set a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Three investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.38.

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.