KLP Kapitalforvaltning AS Invests $3.42 Million in Reinsurance Group of America, Incorporated (NYSE:RGA)

KLP Kapitalforvaltning AS acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 16,000 shares of the insurance provider’s stock, valued at approximately $3,418,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Reinsurance Group of America by 19.2% during the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after buying an additional 29,352 shares during the last quarter. Martin Capital Partners LLC purchased a new stake in Reinsurance Group of America during the 4th quarter valued at about $1,788,000. Nordea Investment Management AB grew its position in Reinsurance Group of America by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after acquiring an additional 4,119 shares during the last quarter. Pacer Advisors Inc. increased its stake in Reinsurance Group of America by 23.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock worth $3,077,000 after purchasing an additional 2,768 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Reinsurance Group of America by 7.9% during the third quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock valued at $16,862,000 after purchasing an additional 5,699 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

RGA opened at $201.57 on Thursday. 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 company has a market cap of $13.31 billion, a price-to-earnings ratio of 18.77 and a beta of 0.91. The stock has a fifty day simple moving average of $205.94 and a two-hundred day simple moving average of $213.70. Reinsurance Group of America, Incorporated has a 12-month low of $178.84 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued 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%. Research 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 announced 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. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.77%. Reinsurance Group of America’s payout ratio is 33.15%.

Wall Street Analyst Weigh In

Several research analysts recently commented on RGA shares. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Evercore ISI decreased 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 research report on Thursday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays reduced their price target 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. Finally, Morgan Stanley cut their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

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.