Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Position Raised by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 182,973 shares of the insurance provider’s stock after purchasing an additional 21,589 shares during the quarter. Retirement Systems of Alabama’s holdings in Reinsurance Group of America were worth $36,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RGA. Alliancebernstein L.P. grew its position in shares of Reinsurance Group of America by 389.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after buying an additional 893,537 shares during the last quarter. Norges Bank bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $174,082,000. FMR LLC grew its position in Reinsurance Group of America by 11.1% in the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after purchasing an additional 564,693 shares during the last quarter. GAMMA Investing LLC grew its position in Reinsurance Group of America by 54,931.6% in the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider’s stock worth $93,512,000 after purchasing an additional 474,060 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Reinsurance Group of America by 6,944.4% in the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock worth $60,963,000 after purchasing an additional 281,317 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.3%

Reinsurance Group of America stock opened at $196.00 on Friday. The firm has a 50 day simple moving average of $197.46 and a 200-day simple moving average of $202.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $12.95 billion, a PE ratio of 16.54 and a beta of 0.63. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business’s revenue was down 17.0% on a year-over-year basis. During the same period last year, the firm posted $6.02 earnings per share. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 30.04%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RGA shares. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Evercore ISI decreased their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. 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. 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.85.

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.