Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,467 shares of the insurance provider’s stock after selling 3,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Reinsurance Group of America worth $8,559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in shares of Reinsurance Group of America in the first quarter worth about $28,000. Colonial Trust Co SC increased its position in shares of Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Reinsurance Group of America by 224.1% during the first 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Reinsurance Group of America by 78.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 136 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in 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 report on Tuesday, July 8th. Morgan Stanley boosted their price objective 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 lifted 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 report on Wednesday, May 7th. Raymond James Financial reissued a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, UBS Group reissued a “neutral” rating and issued a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.36.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $190.42 on Thursday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 16.07 and a beta of 0.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average is $197.90 and its two-hundred day moving average is $199.18. 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 announced its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The company’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.02 EPS. Research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

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

Reinsurance Group of America Company 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.