Fifth Third Bancorp Sells 427 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Fifth Third Bancorp cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,980 shares of the insurance provider’s stock after selling 427 shares during the period. Fifth Third Bancorp’s holdings in Reinsurance Group of America were worth $4,525,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in shares of Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth $44,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Reinsurance Group of America by 78.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 136 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Reinsurance Group of America by 99.4% in the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock worth $66,000 after purchasing an additional 155 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth $70,000. 95.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RGA has been the subject of a number of research reports. Morgan Stanley set a $209.00 target price on shares of Reinsurance Group of America and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $232.00 to $237.00 in a research report on Wednesday, April 2nd. UBS Group restated a “neutral” rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Finally, Raymond James restated a “market perform” rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.85.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $196.80 on Friday. The firm has a 50-day simple moving average of $195.50 and a 200-day simple moving average of $203.76. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 18.32 and a beta of 0.63. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The firm had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. Reinsurance Group of America’s quarterly revenue was down 17.0% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.89 per share. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 annualized dividend and a dividend yield of 1.81%. Reinsurance Group of America’s dividend payout ratio is presently 30.04%.

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.