Everence Capital Management Inc. Acquires New Shares in Reinsurance Group of America, Incorporated (NYSE:RGA)

Everence Capital Management Inc. bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,830 shares of the insurance provider’s stock, valued at approximately $391,000.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $25,000. Private Trust Co. NA increased its holdings in shares of Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Reinsurance Group of America during the third quarter worth about $34,000. Strengthening Families & Communities LLC bought a new position in shares of Reinsurance Group of America during the 3rd quarter valued at about $36,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $37,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, TD Cowen initiated coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $227.54.

Reinsurance Group of America Stock Down 0.2 %

Shares of RGA stock opened at $218.30 on Tuesday. Reinsurance Group of America, Incorporated has a 52-week low of $163.81 and a 52-week 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. The stock has a market cap of $14.38 billion, a price-to-earnings ratio of 20.05 and a beta of 0.94. The firm’s 50-day moving average is $218.98 and its 200-day moving average is $214.93.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping 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 business 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 firm earned $5.57 EPS. The firm’s revenue 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 year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

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.