New York State Teachers Retirement System lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,831 shares of the insurance provider's stock after selling 4,600 shares during the period. New York State Teachers Retirement System owned about 0.12% of Reinsurance Group of America worth $17,268,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in RGA. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock worth $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Reinsurance Group of America by 47.7% during the third 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Reinsurance Group of America during the third quarter worth about $11,803,000. Bank of Montreal Can increased its position in shares of Reinsurance Group of America by 146.2% during the third quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider's stock worth $16,690,000 after purchasing an additional 45,972 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Reinsurance Group of America by 31.1% during the third quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider's stock worth $42,201,000 after purchasing an additional 45,924 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.
Shares of NYSE:RGA opened at $199.72 on Monday. The business's 50 day simple moving average is $216.39 and its 200-day simple moving average is $216.67. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 18.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 12 month low of $167.80 and a 12 month high of $233.81.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly 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 14.80% and a net margin of 3.24%. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 23.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, February 18th. Reinsurance Group of America's payout ratio is currently 33.15%.
RGA has been the topic of several recent research reports. Royal Bank of Canada restated 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. Piper Sandler dropped 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. Morgan Stanley dropped their price target 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. Barclays dropped their price target on Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price target on 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 analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of "Moderate Buy" and a consensus target price of $228.08.
View Our Latest Stock Report on RGA
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.
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