Alliancebernstein L.P. Buys 893,537 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Alliancebernstein L.P. grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 389.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,123,022 shares of the insurance provider’s stock after acquiring an additional 893,537 shares during the quarter. Alliancebernstein L.P.’s holdings in Reinsurance Group of America were worth $239,911,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Spire Wealth Management raised its stake in 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 purchasing an additional 57 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $44,000. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 80 shares during the period. Private Trust Co. NA raised its holdings in Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock worth $66,000 after purchasing an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Reinsurance Group of America in the 4th quarter worth approximately $70,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

RGA opened at $196.85 on Tuesday. 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 $13.00 billion, a price-to-earnings ratio of 18.33 and a beta of 0.91. The company’s fifty day moving average price is $204.41 and its two-hundred day moving average price is $213.44. 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 (NYSE:RGA) last announced its quarterly earnings results 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 net margin of 3.24% and a return on equity of 14.55%. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.81%. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Upgrades and Downgrades

RGA has been the subject of several recent analyst reports. Evercore ISI decreased their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company boosted their price objective on 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. 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. Barclays dropped their price target on 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, Morgan Stanley reduced their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.85.

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.