Norges Bank Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Norges Bank acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 4th quarter, HoldingsChannel reports. The fund acquired 814,875 shares of the insurance provider’s stock, valued at approximately $174,082,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RGA. Principal Financial Group Inc. grew its position in shares of Reinsurance Group of America by 19.2% in the 4th quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after buying an additional 29,352 shares during the last quarter. Martin Capital Partners LLC acquired a new position in shares of Reinsurance Group of America in the fourth quarter worth approximately $1,788,000. Nordea Investment Management AB boosted its holdings in Reinsurance Group of America by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after acquiring an additional 4,119 shares during the last quarter. Pacer Advisors Inc. increased its position in Reinsurance Group of America by 23.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after purchasing an additional 2,768 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Reinsurance Group of America by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock worth $16,862,000 after purchasing an additional 5,699 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $195.69 on Monday. Reinsurance Group of America, Incorporated has a 12 month low of $178.84 and a 12 month high of $233.81. The firm has a market capitalization of $12.92 billion, a PE ratio of 18.22 and a beta of 0.91. The firm has a fifty day simple moving average of $204.94 and a two-hundred day simple moving average of $213.54. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 1.82%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 33.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RGA. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Piper Sandler decreased their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley cut their target price 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, February 14th. Barclays lowered their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Evercore ISI cut their price target on 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. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.85.

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.