Douglas Lane & Associates LLC Has $120.92 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Douglas Lane & Associates LLC lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 566,026 shares of the insurance provider’s stock after selling 6,687 shares during the period. Reinsurance Group of America accounts for about 1.7% of Douglas Lane & Associates LLC’s holdings, making the stock its 12th biggest position. Douglas Lane & Associates LLC owned approximately 0.86% of Reinsurance Group of America worth $120,920,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RGA. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the 3rd quarter worth $25,000. Private Trust Co. NA lifted its position in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Reinsurance Group of America during the third quarter worth about $34,000. Strengthening Families & Communities LLC purchased a new position in Reinsurance Group of America during the third quarter worth about $36,000. Finally, Capital Performance Advisors LLP purchased a new stake in Reinsurance Group of America in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $0.27 during mid-day trading on Wednesday, reaching $221.47. The company’s stock had a trading volume of 253,491 shares, compared to its average volume of 487,996. The company has a market capitalization of $14.59 billion, a P/E ratio of 20.34 and a beta of 0.94. The firm’s fifty day moving average price is $219.30 and its two-hundred day moving average price is $215.11. Reinsurance Group of America, Incorporated has a 12-month low of $163.81 and a 12-month high of $233.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company posted $5.57 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.61%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RGA. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen assumed 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 objective for the company. Three investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.31.

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.