Ameriprise Financial Inc. Lowers Position in Reinsurance Group of America, Incorporated $RGA

Ameriprise Financial Inc. cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 475,035 shares of the insurance provider’s stock after selling 51,134 shares during the quarter. Ameriprise Financial Inc. owned about 0.72% of Reinsurance Group of America worth $93,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Colonial Trust Co SC grew its holdings in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth $28,000. Golden State Wealth Management LLC grew its holdings in shares of Reinsurance Group of America by 164.3% during the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 92 shares during the period. TCTC Holdings LLC boosted its holdings in Reinsurance Group of America by 107.2% during the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings in Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 121 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

RGA stock opened at $191.1310 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $12.63 billion, a P/E ratio of 16.59 and a beta of 0.61. The business’s 50-day moving average is $192.66 and its two-hundred day moving average is $194.07. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.48 EPS. Analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share 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 26th. Shareholders of record on Tuesday, August 12th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio is 32.29%.

Analyst Ratings Changes

A number of equities analysts recently commented on RGA shares. Morgan Stanley lowered their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Wells Fargo & Company lowered their target price on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Raymond James Financial restated a “market perform” rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $242.27.

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.