Principal Financial Group Inc. Has $29.50 Million Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. lessened its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 269,443 shares of the insurance provider’s stock after selling 5,248 shares during the quarter. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $29,501,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Earnest Partners LLC grew its position in shares of Reinsurance Group of America by 39.2% during the 4th quarter. Earnest Partners LLC now owns 2,082,894 shares of the insurance provider’s stock worth $228,056,000 after buying an additional 586,198 shares during the period. Millennium Management LLC grew its position in shares of Reinsurance Group of America by 304.6% during the 3rd quarter. Millennium Management LLC now owns 674,876 shares of the insurance provider’s stock worth $75,087,000 after buying an additional 508,080 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $39,995,000. American Century Companies Inc. grew its position in shares of Reinsurance Group of America by 11.1% during the 4th quarter. American Century Companies Inc. now owns 3,605,344 shares of the insurance provider’s stock worth $394,749,000 after buying an additional 359,665 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Reinsurance Group of America by 76.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 499,033 shares of the insurance provider’s stock worth $55,523,000 after buying an additional 216,541 shares during the period. 96.37% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on RGA shares. Credit Suisse Group raised their price objective on shares of Reinsurance Group of America from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Thursday, March 3rd. Wolfe Research assumed coverage on shares of Reinsurance Group of America in a research report on Friday, January 21st. They set an “underperform” rating and a $100.00 price objective for the company. Zacks Investment Research upgraded Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 target price on the stock in a report on Wednesday, April 6th. TheStreet cut Reinsurance Group of America from a “b-” rating to a “c” rating in a report on Thursday, May 5th. Finally, StockNews.com cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.10.

In other Reinsurance Group of America news, Director Christine Rose Detrick sold 4,300 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total transaction of $487,362.00. Following the transaction, the director now directly owns 1,618 shares in the company, valued at approximately $183,384.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.55% of the stock is currently owned by company insiders.

Shares of NYSE:RGA opened at $117.91 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $109.54 and its two-hundred day simple moving average is $110.11. Reinsurance Group of America, Incorporated has a 1-year low of $94.32 and a 1-year high of $129.63. The stock has a market cap of $7.90 billion, a PE ratio of 19.43 and a beta of 1.10.

Reinsurance Group of America (NYSE:RGAGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The insurance provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.55) by $1.02. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business earned ($1.24) EPS. The business’s revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 9.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, May 16th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 48.11%.

Reinsurance Group of America Company Profile (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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