Principal Financial Group Inc. Raises Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 19.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 182,069 shares of the insurance provider’s stock after buying an additional 29,352 shares during the quarter. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $38,895,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RGA. WCM Investment Management LLC increased its position in shares of 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 worth $527,742,000 after acquiring an additional 2,260,605 shares during the period. JPMorgan Chase & Co. increased its position in shares of Reinsurance Group of America by 47.7% during the third 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 period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Reinsurance Group of America during the third quarter worth approximately $11,803,000. Bank of Montreal Can increased its position in shares of Reinsurance Group of America by 146.2% during the third quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider’s stock worth $16,690,000 after acquiring an additional 45,972 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of Reinsurance Group of America by 31.1% during the third quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider’s stock worth $42,201,000 after acquiring an additional 45,924 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RGA has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays dropped their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $244.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday. Three investment 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.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average target price of $229.54.

Reinsurance Group of America Stock Down 3.4 %

RGA stock opened at $189.40 on Friday. The stock has a market capitalization of $12.47 billion, a P/E ratio of 17.63 and a beta of 0.93. The firm has a 50-day simple moving average of $215.37 and a 200-day simple moving average of $216.15. 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 52 week low of $169.08 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, February 6th. The insurance provider reported $4.99 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%. Equities analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.89 per share. 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 1.88%. Reinsurance Group of America’s payout ratio is presently 33.15%.

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.