Swiss National Bank grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,900 shares of the insurance provider’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank owned approximately 0.22% of Reinsurance Group of America worth $20,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its stake in Reinsurance Group of America by 129,207.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock worth $1,721,766,000 after buying an additional 12,108,062 shares in the last quarter. Norges Bank purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth about $96,942,000. Morgan Stanley raised its stake in Reinsurance Group of America by 121.0% during the 4th quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock valued at $132,165,000 after purchasing an additional 509,220 shares during the period. Alliancebernstein L.P. raised its stake in Reinsurance Group of America by 446.0% during the 3rd quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock valued at $73,108,000 after purchasing an additional 474,672 shares during the period. Finally, Nuance Investments LLC lifted its holdings in Reinsurance Group of America by 37.6% in the 1st quarter. Nuance Investments LLC now owns 1,018,207 shares of the insurance provider’s stock worth $135,177,000 after purchasing an additional 278,242 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on RGA. Jefferies Financial Group reduced their price objective on shares of Reinsurance Group of America from $160.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday, September 14th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 6th. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $168.00 to $169.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Morgan Stanley boosted their target price on Reinsurance Group of America from $164.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Finally, Citigroup cut their price target on Reinsurance Group of America from $170.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.91.
Insider Buying and Selling
In other Reinsurance Group of America news, EVP Ronald Herrmann sold 510 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $161.05, for a total value of $82,135.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.31% of the stock is owned by corporate insiders.
Reinsurance Group of America Stock Up 0.6 %
Shares of RGA opened at $158.53 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $148.80 and a 200 day moving average of $144.46. The company has a market cap of $10.45 billion, a PE ratio of 11.26 and a beta of 0.86. Reinsurance Group of America, Incorporated has a 52-week low of $120.99 and a 52-week high of $163.62.
Reinsurance Group of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be issued a $0.85 dividend. The ex-dividend date is Monday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 24.15%.
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.
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