Retirement Systems of Alabama Cuts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Retirement Systems of Alabama cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,705 shares of the insurance provider’s stock after selling 1,557 shares during the quarter. Retirement Systems of Alabama owned about 0.22% of Reinsurance Group of America worth $30,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Covestor Ltd raised its stake in shares of Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares during the last quarter. GAMMA Investing LLC grew its position in Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 79 shares during the period. Hilltop National Bank raised its stake in Reinsurance Group of America by 13.1% during the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after buying an additional 82 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Reinsurance Group of America by 2.2% in the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after buying an additional 92 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.9 %

Shares of RGA traded up $1.90 during midday trading on Friday, hitting $211.77. The stock had a trading volume of 205,548 shares, compared to its average volume of 371,757. The stock’s 50 day moving average is $209.35 and its 200 day moving average is $197.03. The firm has a market cap of $13.93 billion, a PE ratio of 16.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1 year low of $135.57 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the company posted $4.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts forecast that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a boost 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 dividend payout ratio is presently 27.66%.

Analysts Set New Price Targets

RGA has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Evercore ISI boosted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Jefferies Financial Group increased their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group upped their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.45.

About Reinsurance Group of America

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.