Assetmark Inc. Acquires 710 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Assetmark Inc. lifted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1,868.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 748 shares of the insurance provider’s stock after acquiring an additional 710 shares during the period. Assetmark Inc.’s holdings in Reinsurance Group of America were worth $160,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Keybank National Association OH boosted its stake in shares of Reinsurance Group of America by 2.6% in the fourth quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock worth $500,000 after acquiring an additional 59 shares during the period. SBI Securities Co. Ltd. bought a new position in Reinsurance Group of America during the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp boosted its stake in Reinsurance Group of America by 600.0% during the fourth quarter. Jones Financial Companies Lllp now owns 700 shares of the insurance provider’s stock valued at $149,000 after buying an additional 600 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Reinsurance Group of America by 62.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,034 shares of the insurance provider’s stock valued at $644,000 after buying an additional 1,162 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its stake in Reinsurance Group of America by 24.2% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,374 shares of the insurance provider’s stock valued at $294,000 after buying an additional 268 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

RGA has been the subject of a number of research reports. Barclays dropped their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Evercore ISI lowered their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Piper Sandler lowered their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $231.85.

Reinsurance Group of America Trading Down 1.0 %

Shares of NYSE RGA opened at $185.97 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $210.42 and a two-hundred day simple moving average of $215.08. The firm has a market cap of $12.28 billion, a PE ratio of 17.32 and a beta of 0.91. Reinsurance Group of America, Incorporated has a twelve month low of $178.84 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share 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%. Analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

About Reinsurance Group of America

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.