M&G Plc Grows Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

M&G Plc increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,153 shares of the insurance provider’s stock after purchasing an additional 4,025 shares during the quarter. M&G Plc owned 0.13% of Reinsurance Group of America worth $17,456,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RGA. Lindbrook Capital LLC boosted its stake in shares of Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America in the fourth quarter worth about $26,000. New Covenant Trust Company N.A. bought a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $29,000. Finally, LRI Investments LLC bought a new position in shares of Reinsurance Group of America in the 1st quarter worth approximately $33,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.2 %

RGA stock opened at $201.73 on Wednesday. Reinsurance Group of America, Incorporated has a 12 month low of $135.07 and a 12 month high of $227.87. The firm’s 50-day moving average is $208.56 and its 200 day moving average is $195.29. The company has a market capitalization of $13.29 billion, a PE ratio of 15.67 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 (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the firm posted $4.40 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a $0.89 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RGA shares. Royal Bank of Canada boosted their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Citigroup boosted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Two research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $218.73.

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.