JPMorgan Chase & Co. Has $79.51 Million Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

JPMorgan Chase & Co. grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 47.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,953 shares of the insurance provider’s stock after purchasing an additional 117,829 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of Reinsurance Group of America worth $79,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America during the 2nd quarter worth approximately $28,000. Commonwealth Equity Services LLC increased its stake in Reinsurance Group of America by 10.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,934 shares of the insurance provider’s stock valued at $1,013,000 after buying an additional 484 shares during the last quarter. CIBC Asset Management Inc lifted its position in Reinsurance Group of America by 8.0% during the 2nd quarter. CIBC Asset Management Inc now owns 2,225 shares of the insurance provider’s stock worth $457,000 after buying an additional 165 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Reinsurance Group of America by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 18,409 shares of the insurance provider’s stock worth $3,779,000 after buying an additional 297 shares during the last quarter. Finally, Candriam S.C.A. increased its position in shares of Reinsurance Group of America by 6.8% in the second quarter. Candriam S.C.A. now owns 23,855 shares of the insurance provider’s stock valued at $4,896,000 after acquiring an additional 1,527 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on RGA. TD Cowen started coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays upped their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on shares of 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. Finally, Raymond James upped their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Stock Up 0.8 %

RGA stock opened at $215.39 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $162.86 and a fifty-two week high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 19.78 and a beta of 0.93. The business’s fifty day moving average price is $218.82 and its two-hundred day moving average price is $214.71.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the company earned $5.57 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 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, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.65%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Reinsurance Group of America 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.