First Citizens Bank & Trust Co. Increases Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

First Citizens Bank & Trust Co. lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,613 shares of the insurance provider’s stock after acquiring an additional 212 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Reinsurance Group of America were worth $345,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth about $34,000. Private Trust Co. NA grew its position in Reinsurance Group of America by 333.3% during the third 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 during the period. Strengthening Families & Communities LLC purchased a new stake in Reinsurance Group of America during the third quarter worth about $36,000. Finally, Capital Performance Advisors LLP bought a new stake in Reinsurance Group of America in the third quarter worth about $37,000. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays decreased their target price on 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. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $229.32 on Tuesday. The firm’s 50 day simple moving average is $219.26 and its 200 day simple moving average is $216.56. 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, Incorporated has a 1-year low of $163.81 and a 1-year high of $233.81. The firm has a market capitalization of $15.10 billion, a PE ratio of 21.06 and a beta of 0.94.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $5.57 earnings per share. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 21.4 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, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, November 8th. 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.