Proficio Capital Partners LLC Buys New Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Proficio Capital Partners LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the fourth quarter, HoldingsChannel reports. The fund bought 40,590 shares of the insurance provider’s stock, valued at approximately $8,671,000.

Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its holdings in Reinsurance Group of America by 15.7% in the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares during the period. Principal Financial Group Inc. lifted its holdings in Reinsurance Group of America by 19.2% in the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after acquiring an additional 29,352 shares during the period. Martin Capital Partners LLC acquired a new position in Reinsurance Group of America in the fourth quarter valued at approximately $1,788,000. Nordea Investment Management AB lifted its holdings in Reinsurance Group of America by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after acquiring an additional 4,119 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Reinsurance Group of America by 23.8% in the fourth quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after acquiring an additional 2,768 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $191.98 on Friday. The stock has a market cap of $12.68 billion, a PE ratio of 17.88 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a twelve month low of $178.84 and a twelve month high of $233.81. The stock has a fifty day simple moving average of $209.88 and a 200-day simple moving average of $214.98.

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 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 anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Analysts Set New Price Targets

RGA has been the subject of a number of analyst reports. Piper Sandler decreased their price target 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. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Morgan Stanley reduced their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Barclays reduced their target price 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. Three equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.85.

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.