Envestnet Portfolio Solutions Inc. Buys 2,729 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,241 shares of the insurance provider’s stock after purchasing an additional 2,729 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Reinsurance Group of America were worth $6,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. WCM Investment Management LLC grew its holdings in Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after acquiring an additional 33,082 shares during the last quarter. Geode Capital Management LLC grew its holdings in Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after acquiring an additional 18,162 shares during the last quarter. Stifel Financial Corp grew its holdings in Reinsurance Group of America by 8.2% during the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after acquiring an additional 27,931 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Reinsurance Group of America by 47.7% during the 3rd 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 last quarter. Finally, Raymond James Financial Inc. bought a new stake in Reinsurance Group of America during the 4th quarter worth approximately $48,724,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

RGA opened at $192.82 on Tuesday. 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’s fifty day moving average price is $209.37 and its two-hundred day moving average price is $214.78. Reinsurance Group of America, Incorporated has a 1-year low of $178.84 and a 1-year high of $233.81. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 17.95 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.85%. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RGA shares. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Piper Sandler reduced 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. 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. Barclays reduced 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. Finally, Wells Fargo & Company upped their price objective on shares of 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. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.