JPMorgan Chase & Co. Has $79.51 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

JPMorgan Chase & Co. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 47.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 364,953 shares of the insurance provider’s stock after purchasing an additional 117,829 shares during the period. JPMorgan Chase & Co.’s holdings in Reinsurance Group of America were worth $79,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RGA. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at $28,000. Commonwealth Equity Services LLC lifted its position in shares of Reinsurance Group of America by 10.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,934 shares of the insurance provider’s stock worth $1,013,000 after buying an additional 484 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Reinsurance Group of America by 8.0% in the second quarter. CIBC Asset Management Inc now owns 2,225 shares of the insurance provider’s stock valued at $457,000 after buying an additional 165 shares in the last quarter. Arizona State Retirement System raised its stake in Reinsurance Group of America by 1.6% during the second quarter. Arizona State Retirement System now owns 18,409 shares of the insurance provider’s stock worth $3,779,000 after acquiring an additional 297 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Reinsurance Group of America by 6.8% in the second quarter. Candriam S.C.A. now owns 23,855 shares of the insurance provider’s stock worth $4,896,000 after acquiring an additional 1,527 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $215.39 on Friday. The company has a market capitalization of $14.19 billion, a PE ratio of 19.78 and a beta of 0.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a twelve month low of $162.86 and a twelve month high of $233.81. The firm has a fifty day simple moving average of $218.82 and a 200 day simple moving average of $214.71.

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 for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the company posted $5.57 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RGA. Royal Bank of Canada upped their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. TD Cowen started coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Finally, Piper Sandler boosted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Three 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.77.

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.