Reinsurance Group of America, Incorporated (NYSE:RGA) Stake Lessened by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,159 shares of the insurance provider’s stock after selling 100 shares during the period. Reinsurance Group of America accounts for about 2.2% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 18th largest holding. Benson Investment Management Company Inc.’s holdings in Reinsurance Group of America were worth $5,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. WCM Investment Management LLC lifted its stake in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its position in shares of Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after acquiring an additional 133,212 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after acquiring an additional 117,829 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Reinsurance Group of America during the third quarter worth $11,803,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 0.8 %

RGA opened at $214.40 on Tuesday. The company has a market capitalization of $14.12 billion, a PE ratio of 19.69 and a beta of 0.94. The business has a 50-day moving average of $219.74 and a 200-day moving average of $215.45. Reinsurance Group of America, Incorporated has a fifty-two week low of $163.81 and a fifty-two week high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $5.57 EPS. Reinsurance Group of America’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.66%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Analyst Ratings Changes

A number of equities analysts recently weighed in 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 report on Thursday, October 3rd. Barclays reduced their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Raymond James lifted their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.31.

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.