Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,307 shares of the insurance provider’s stock after selling 33,248 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Reinsurance Group of America worth $125,289,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

RGA has been the subject of several recent analyst reports. Morgan Stanley set a $209.00 price target on Reinsurance Group of America and gave the stock an “equal weight” rating in a research note on Monday, May 19th. UBS Group reissued a “neutral” rating and set a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Raymond James Financial reissued a “market perform” rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.92.

Reinsurance Group of America Trading Up 1.8%

Shares of RGA opened at $197.89 on Wednesday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 16.70 and a beta of 0.62. The stock’s 50-day moving average price is $200.18 and its 200 day moving average price is $201.36.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results 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. Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period in the previous year, the company posted $6.02 earnings per share. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 annualized dividend and a yield of 1.80%. Reinsurance Group of America’s dividend payout ratio is 30.04%.

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.