Pictet Asset Management Holding SA Boosts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Pictet Asset Management Holding SA grew its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,847 shares of the insurance provider’s stock after purchasing an additional 290 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Reinsurance Group of America were worth $1,890,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Spire Wealth Management increased its holdings in Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after buying an additional 57 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $44,000. Versant Capital Management Inc increased its stake in shares of Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Reinsurance Group of America by 99.4% in the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock worth $66,000 after purchasing an additional 155 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in Reinsurance Group of America in the fourth quarter valued at approximately $70,000. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RGA. JPMorgan Chase & Co. raised Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $232.00 to $237.00 in a research report on Wednesday. UBS Group reissued a “neutral” rating and issued a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Wells Fargo & Company upped their price target on shares of 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. Three 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $230.38.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $172.27 on Friday. The company’s 50 day simple moving average is $201.62 and its two-hundred day simple moving average is $212.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1 year low of $170.19 and a 1 year high of $233.81. The stock has a market capitalization of $11.37 billion, a PE ratio of 16.04 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

Reinsurance Group of America 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.