Artemis Investment Management LLP Cuts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Artemis Investment Management LLP decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 43.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,646 shares of the insurance provider’s stock after selling 26,759 shares during the period. Artemis Investment Management LLP owned about 0.05% of Reinsurance Group of America worth $7,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the third quarter valued at $25,000. Wolff Wiese Magana LLC acquired a new position in shares of Reinsurance Group of America during the 3rd quarter worth about $34,000. Private Trust Co. NA lifted its stake in Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after buying an additional 120 shares in the last quarter. Strengthening Families & Communities LLC acquired a new stake in Reinsurance Group of America in the 3rd quarter worth about $36,000. Finally, Capital Performance Advisors LLP purchased a new stake in Reinsurance Group of America during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RGA shares. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Finally, Barclays cut their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Stock Down 0.3 %

Shares of NYSE:RGA opened at $223.16 on Monday. Reinsurance Group of America, Incorporated has a 12-month low of $163.81 and a 12-month high of $233.81. The stock’s 50-day moving average price is $219.83 and its two-hundred day moving average price is $215.94. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 20.49 and a beta of 0.94. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the business earned $5.57 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 21.4 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.60%. Reinsurance Group of America’s payout ratio is 32.69%.

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.