Nuveen Asset Management LLC Has $81.05 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Nuveen Asset Management LLC trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 379,407 shares of the insurance provider’s stock after selling 55,905 shares during the period. Nuveen Asset Management LLC’s holdings in Reinsurance Group of America were worth $81,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock valued at $1,541,121,000 after purchasing an additional 51,733 shares in the last quarter. FMR LLC grew its position in Reinsurance Group of America by 11.1% in the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after acquiring an additional 564,693 shares during the period. WCM Investment Management LLC grew its position in Reinsurance Group of America by 1.4% in the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after acquiring an additional 33,082 shares during the period. Alliancebernstein L.P. grew its position in Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after acquiring an additional 893,537 shares during the period. Finally, Geode Capital Management LLC grew its position in Reinsurance Group of America by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after acquiring an additional 4,106 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler lowered their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $246.00 to $248.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. Finally, UBS Group restated a “neutral” rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $230.69.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $209.26 on Friday. The business’s 50-day simple moving average is $190.73 and its 200 day simple moving average is $206.77. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 19.48 and a beta of 0.57. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.02 earnings per share. As a group, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is 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.