Vestcor Inc Buys 3,680 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Vestcor Inc raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 296.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,923 shares of the insurance provider’s stock after purchasing an additional 3,680 shares during the period. Vestcor Inc’s holdings in Reinsurance Group of America were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RGA. Swiss National Bank boosted its stake in shares of Reinsurance Group of America by 0.8% in the fourth quarter. Swiss National Bank now owns 129,500 shares of the insurance provider’s stock worth $27,665,000 after acquiring an additional 1,000 shares during the period. Essential Planning LLC. bought a new position in shares of Reinsurance Group of America in the fourth quarter worth about $1,658,000. GC Wealth Management RIA LLC bought a new position in shares of Reinsurance Group of America in the fourth quarter worth about $201,000. Daiwa Securities Group Inc. boosted its stake in shares of Reinsurance Group of America by 28.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the insurance provider’s stock worth $769,000 after acquiring an additional 800 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Reinsurance Group of America by 28.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,665 shares of the insurance provider’s stock worth $9,969,000 after acquiring an additional 10,206 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 3.2 %

Shares of NYSE RGA opened at $191.98 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The business’s 50 day moving average price is $209.88 and its 200-day moving average price is $214.98. Reinsurance Group of America, Incorporated has a fifty-two week low of $178.84 and a fifty-two week high of $233.81. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 17.88 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results 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 return on equity of 14.55% and a net margin of 3.24%. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.85%. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler dropped their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Barclays dropped their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI dropped their price target on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.85.

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.