Norges Bank Acquires New Stake in Reinsurance Group of America, Incorporated $RGA

Norges Bank bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 846,720 shares of the insurance provider’s stock, valued at approximately $167,955,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings in shares of Reinsurance Group of America by 357.1% during the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after buying an additional 175 shares in the last quarter. SouthState Corp purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $48,000. Oakworth Capital Inc. boosted its position in Reinsurance Group of America by 32.4% during the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc grew its stake in Reinsurance Group of America by 93.9% in the 2nd quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 138 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in Reinsurance Group of America in the 2nd quarter valued at $57,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of research analyst reports. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Barclays reissued an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods decreased their price target on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $239.89.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $192.56 on Wednesday. The company has a market capitalization of $12.65 billion, a PE ratio of 16.72 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average of $190.01 and a 200-day moving average of $193.01. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $232.97.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the firm posted $6.13 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

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.