Foster & Motley Inc. Sells 566 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Foster & Motley Inc. lessened its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,545 shares of the insurance provider’s stock after selling 566 shares during the period. Foster & Motley Inc.’s holdings in Reinsurance Group of America were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RGA. JPMorgan Chase & Co. raised its position in shares of Reinsurance Group of America by 1.3% during the fourth quarter. JPMorgan Chase & Co. now owns 369,732 shares of the insurance provider’s stock valued at $78,986,000 after buying an additional 4,779 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Reinsurance Group of America by 3.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,847 shares of the insurance provider’s stock valued at $1,890,000 after buying an additional 290 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $2,031,000. Brown Brothers Harriman & Co. raised its position in shares of Reinsurance Group of America by 265.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 395 shares of the insurance provider’s stock valued at $84,000 after buying an additional 287 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $512,000. 95.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RGA shares. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company restated an “overweight” rating and set a $249.00 target price (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Finally, UBS Group restated a “neutral” rating and set a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average target price of $244.36.

Reinsurance Group of America Stock Down 1.7%

Shares of Reinsurance Group of America stock opened at $190.42 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The firm’s 50-day moving average is $197.90 and its two-hundred day moving average is $199.18. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 16.07 and a beta of 0.62.

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

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.87%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America’s payout ratio is 30.04%.

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.