Bank of Montreal Can Has $48.45 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Bank of Montreal Can raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 49.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,159 shares of the insurance provider’s stock after acquiring an additional 83,371 shares during the quarter. Bank of Montreal Can owned about 0.38% of Reinsurance Group of America worth $48,447,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RGA. WCM Investment Management LLC increased its stake in shares of Reinsurance Group of America by 3.6% during the third quarter. WCM Investment Management LLC now owns 2,734,458 shares of the insurance provider’s stock worth $519,356,000 after purchasing an additional 94,479 shares during the period. American Century Companies Inc. grew its holdings in Reinsurance Group of America by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after buying an additional 324,239 shares in the last quarter. Geode Capital Management LLC increased its position in Reinsurance Group of America by 4.6% during 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 during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Reinsurance Group of America by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,098,564 shares of the insurance provider’s stock worth $211,054,000 after buying an additional 49,323 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Reinsurance Group of America in the second quarter valued at about $167,955,000. Institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RGA shares. Barclays set a $245.00 price target on Reinsurance Group of America and gave the company an “overweight” rating in a research note on Friday, February 6th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $263.00 price objective on shares of Reinsurance Group of America in a research note on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $244.57.

Reinsurance Group of America Trading Down 0.6%

NYSE RGA opened at $204.76 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 11.54 and a beta of 0.50. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $229.21. The business’s fifty day moving average is $208.02 and its 200 day moving average is $198.23.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm posted $4.99 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.72 annualized dividend and a yield of 1.8%. Reinsurance Group of America’s payout ratio is presently 20.96%.

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.