Lazard Asset Management LLC Purchases 8,365 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Lazard Asset Management LLC raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.6% in the fourth quarter, Holdings Channel reports. The firm owned 105,171 shares of the insurance provider’s stock after acquiring an additional 8,365 shares during the quarter. Lazard Asset Management LLC’s holdings in Reinsurance Group of America were worth $22,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Reinsurance Group of America by 5.5% during the 3rd quarter. Barclays PLC now owns 102,790 shares of the insurance provider’s stock valued at $22,396,000 after acquiring an additional 5,398 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Reinsurance Group of America by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,419 shares of the insurance provider’s stock valued at $1,181,000 after acquiring an additional 447 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $8,869,000. Park Avenue Securities LLC boosted its holdings in shares of Reinsurance Group of America by 21.2% during the 4th quarter. Park Avenue Securities LLC now owns 15,744 shares of the insurance provider’s stock valued at $3,363,000 after acquiring an additional 2,759 shares during the last quarter. Finally, Occidental Asset Management LLC boosted its holdings in shares of Reinsurance Group of America by 9.6% during the 4th quarter. Occidental Asset Management LLC now owns 6,531 shares of the insurance provider’s stock valued at $1,395,000 after acquiring an additional 571 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Finally, Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.69.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $206.63 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a market capitalization of $13.66 billion, a P/E ratio of 19.24 and a beta of 0.57. The firm’s 50 day simple moving average is $189.64 and its two-hundred day simple moving average is $206.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The business had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. Research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 30.04%.

Reinsurance Group of America Company 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.