Zurcher Kantonalbank Zurich Cantonalbank Sells 4,108 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,970 shares of the insurance provider’s stock after selling 4,108 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reinsurance Group of America were worth $4,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $29,000. Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $33,000. Institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. UBS Group raised their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $220.45.

Reinsurance Group of America Price Performance

RGA opened at $220.77 on Friday. The stock’s 50 day simple moving average is $210.29 and its 200 day simple moving average is $198.68. 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, Incorporated has a 1 year low of $135.57 and a 1 year high of $227.87. The firm has a market cap of $14.52 billion, a price-to-earnings ratio of 17.15 and a beta of 0.92.

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 (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company earned $4.40 EPS. Reinsurance Group of America’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, analysts predict that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.61%. Reinsurance Group of America’s payout ratio is 27.66%.

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.