Morton Community Bank Increases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Morton Community Bank raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,498 shares of the insurance provider’s stock after buying an additional 438 shares during the period. Reinsurance Group of America makes up approximately 1.4% of Morton Community Bank’s portfolio, making the stock its 12th largest position. Morton Community Bank’s holdings in Reinsurance Group of America were worth $4,823,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RGA. Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter worth about $122,301,000. Junto Capital Management LP purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth approximately $92,083,000. Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $67,177,000. Corient Private Wealth LLC lifted its stake in Reinsurance Group of America by 1,965.4% in the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after acquiring an additional 283,907 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in Reinsurance Group of America by 713.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock worth $47,098,000 after acquiring an additional 255,326 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of analyst reports. Raymond James raised their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a report on Friday, June 14th. Jefferies Financial Group lifted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays initiated coverage on Reinsurance Group of America in a report on Wednesday. They issued an “overweight” rating and a $255.00 price objective on the stock. UBS Group boosted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Stock Performance

RGA stock traded down $4.20 during trading on Friday, hitting $212.24. The company had a trading volume of 202,247 shares, compared to its average volume of 247,840. The firm has a 50-day moving average price of $211.40 and a 200-day moving average price of $200.59. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.98 billion, a PE ratio of 16.49 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1-year low of $138.61 and a 1-year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. Reinsurance Group of America’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.40 EPS. On average, analysts expect that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. Reinsurance Group of America’s payout ratio is 27.66%.

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.