Raymond James Financial Inc. Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Raymond James Financial Inc. bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 228,078 shares of the insurance provider’s stock, valued at approximately $48,724,000. Raymond James Financial Inc. owned approximately 0.35% of Reinsurance Group of America at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Azimuth Capital Investment Management LLC raised its holdings in Reinsurance Group of America by 0.6% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 57,899 shares of the insurance provider’s stock worth $12,369,000 after acquiring an additional 330 shares in the last quarter. APG Asset Management N.V. bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $7,262,000. Renaissance Technologies LLC boosted its holdings in shares of Reinsurance Group of America by 22.6% in the 4th quarter. Renaissance Technologies LLC now owns 128,600 shares of the insurance provider’s stock valued at $27,473,000 after buying an additional 23,700 shares during the last quarter. Bank of Nova Scotia increased its holdings in Reinsurance Group of America by 764.0% during the fourth quarter. Bank of Nova Scotia now owns 15,586 shares of the insurance provider’s stock worth $3,330,000 after buying an additional 13,782 shares during the last quarter. Finally, Invesco Ltd. raised its position in Reinsurance Group of America by 34.4% during the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider’s stock worth $201,802,000 after acquiring an additional 241,669 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Reinsurance Group of America from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Wells Fargo & Company cut their price target on Reinsurance Group of America from $264.00 to $246.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, 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 research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.15.

Reinsurance Group of America Stock Up 1.5 %

NYSE RGA opened at $180.90 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 16.84 and a beta of 0.70. The company has a 50 day moving average of $192.96 and a 200-day moving average of $210.25. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data 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%. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.97%. Reinsurance Group of America’s payout ratio is 33.15%.

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.