New York State Common Retirement Fund Has $40.14 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

New York State Common Retirement Fund decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 187,888 shares of the insurance provider’s stock after selling 2,554 shares during the period. New York State Common Retirement Fund’s holdings in Reinsurance Group of America were worth $40,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RGA. Creative Planning boosted its stake in Reinsurance Group of America by 3.1% during the third quarter. Creative Planning now owns 10,370 shares of the insurance provider’s stock worth $2,259,000 after buying an additional 314 shares in the last quarter. Private Advisor Group LLC boosted its stake in Reinsurance Group of America by 4.2% during the third quarter. Private Advisor Group LLC now owns 4,169 shares of the insurance provider’s stock worth $908,000 after buying an additional 169 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Reinsurance Group of America by 23,595.6% during the third quarter. International Assets Investment Management LLC now owns 32,463 shares of the insurance provider’s stock worth $7,073,000 after buying an additional 32,326 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Reinsurance Group of America during the third quarter worth $335,000. Finally, Tectonic Advisors LLC boosted its stake in Reinsurance Group of America by 3.0% during the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $195.96 on Friday. The stock has a 50-day simple moving average of $215.68 and a 200 day simple moving average of $216.29. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 12-month low of $168.51 and a 12-month high of $233.81. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 18.25 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results 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 net margin of 3.24% and a return on equity of 14.55%. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.88 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.82%. Reinsurance Group of America’s payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated 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 lifted their price objective on Reinsurance Group of America from $244.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective 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 cut their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Piper Sandler cut their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $229.54.

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.