Zions Bancorporation National Association UT Takes $816,000 Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Zions Bancorporation acquired a new position in Reinsurance Group of America (NYSE:RGA) with 4,146 shares valued at approximately $816,000 in the first quarter of 2023.
• The company's recent quarterly earnings report showed an EPS of $4.72, missing estimates by $0.86, despite a 14.8% increase in revenue compared to the same quarter last year.
• Reinsurance Group of America announced a dividend increase to $0.93 per share, representing a boost from the previous $0.89 and a 2.0% annual yield.

Zions Bancorporation National Association UT purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,146 shares of the insurance provider's stock, valued at approximately $816,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in shares of Reinsurance Group of America by 1.3% during the first quarter. WCM Investment Management LLC now owns 2,514,042 shares of the insurance provider's stock valued at $492,400,000 after acquiring an additional 33,292 shares during the period. Invesco Ltd. lifted its holdings in Reinsurance Group of America by 34.4% in the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider's stock worth $201,802,000 after purchasing an additional 241,669 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Reinsurance Group of America by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 791,378 shares of the insurance provider's stock worth $169,058,000 after purchasing an additional 50,997 shares during the period. Northern Trust Corp lifted its holdings in Reinsurance Group of America by 17.4% in the fourth quarter. Northern Trust Corp now owns 698,600 shares of the insurance provider's stock worth $149,242,000 after purchasing an additional 103,719 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Reinsurance Group of America by 1.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 652,642 shares of the insurance provider's stock worth $139,424,000 after purchasing an additional 8,161 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $186.51 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company's 50-day moving average price is $195.23 and its two-hundred day moving average price is $197.13. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The stock has a market cap of $12.33 billion, a PE ratio of 16.19 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing the consensus estimate of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the firm posted $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, August 12th. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio is presently 30.90%.

Analyst Ratings Changes

Several research firms recently weighed in on RGA. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.64.

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.

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