Picton Mahoney Asset Management Grows Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Picton Mahoney Asset Management increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 20.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 139,936 shares of the insurance provider’s stock after buying an additional 23,949 shares during the quarter. Reinsurance Group of America comprises about 0.9% of Picton Mahoney Asset Management’s portfolio, making the stock its 16th largest holding. Picton Mahoney Asset Management’s holdings in Reinsurance Group of America were worth $29,894,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA increased its stake in 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 valued at $34,000 after purchasing an additional 120 shares during the last quarter. Strengthening Families & Communities LLC acquired a new stake in Reinsurance Group of America in the third quarter valued at $36,000. Spire Wealth Management increased its position in shares of Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Reinsurance Group of America in the fourth quarter valued at $44,000. Finally, Versant Capital Management Inc increased its position in Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 80 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RGA. Evercore ISI decreased their price target on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler dropped their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Three equities 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

Reinsurance Group of America Price Performance

Shares of RGA opened at $191.98 on Friday. The company has a market cap of $12.68 billion, a P/E ratio of 17.88 and a beta of 0.91. The stock has a fifty day moving average price of $209.88 and a 200 day moving average price of $214.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 12 month low of $178.84 and a 12 month high of $233.81.

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

Reinsurance Group of America Announces Dividend

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

Reinsurance Group of America Company Profile

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.