Teacher Retirement System of Texas Buys 13,830 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Teacher Retirement System of Texas boosted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 24.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,317 shares of the insurance provider’s stock after acquiring an additional 13,830 shares during the period. Teacher Retirement System of Texas owned 0.11% of Reinsurance Group of America worth $14,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Xponance Inc. increased its stake in Reinsurance Group of America by 7.0% during the 4th quarter. Xponance Inc. now owns 7,840 shares of the insurance provider’s stock worth $1,675,000 after acquiring an additional 516 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Reinsurance Group of America by 9.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 32,241 shares of the insurance provider’s stock valued at $6,888,000 after purchasing an additional 2,729 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $99,000. Natixis Advisors LLC boosted its holdings in shares of Reinsurance Group of America by 4.5% in the 4th quarter. Natixis Advisors LLC now owns 202,349 shares of the insurance provider’s stock valued at $43,228,000 after purchasing an additional 8,651 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd boosted its holdings in shares of Reinsurance Group of America by 126.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 4,075 shares of the insurance provider’s stock valued at $871,000 after purchasing an additional 2,275 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley reduced their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Piper Sandler reduced their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.85.

Reinsurance Group of America Stock Performance

RGA stock opened at $191.53 on Friday. The stock has a 50-day moving average price of $207.05 and a 200-day moving average price of $214.05. Reinsurance Group of America, Incorporated has a 1-year low of $178.84 and a 1-year high of $233.81. 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 firm has a market cap of $12.65 billion, a PE ratio of 17.83 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last posted 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 return on equity of 14.55% and a net margin of 3.24%. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

About Reinsurance Group of America

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.