Reinsurance Group of America, Incorporated $RGA Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 197,412 shares of the insurance provider’s stock after acquiring an additional 13,840 shares during the period. Retirement Systems of Alabama’s holdings in Reinsurance Group of America were worth $37,929,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WCM Investment Management LLC lifted its position in Reinsurance Group of America by 5.0% in the second quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider’s stock worth $521,343,000 after purchasing an additional 125,937 shares during the period. American Century Companies Inc. increased its position in shares of Reinsurance Group of America by 35.2% during the 2nd quarter. American Century Companies Inc. now owns 2,044,818 shares of the insurance provider’s stock valued at $405,610,000 after purchasing an additional 532,891 shares during the period. Geode Capital Management LLC raised its stake in shares of Reinsurance Group of America by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,219,609 shares of the insurance provider’s stock worth $241,960,000 after buying an additional 53,211 shares in the last quarter. Norges Bank acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at $167,955,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Reinsurance Group of America by 29.6% in the second quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after buying an additional 182,729 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler lifted their target price on Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Barclays set a $237.00 price objective on shares of Reinsurance Group of America in a research note on Thursday, January 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $237.00 to $238.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $238.67.

Reinsurance Group of America Price Performance

NYSE RGA opened at $194.98 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $232.97. The company has a market cap of $12.81 billion, a PE ratio of 15.00 and a beta of 0.55. The stock’s 50-day moving average price is $197.41 and its two-hundred day moving average price is $193.07.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the company posted $6.13 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, November 10th. Reinsurance Group of America’s payout ratio is presently 28.62%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.