Royal Bank of Canada Increases Stake in Reinsurance Group of America, Incorporated $RGA

Royal Bank of Canada grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 26.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 83,034 shares of the insurance provider’s stock after buying an additional 17,242 shares during the quarter. Royal Bank of Canada owned 0.13% of Reinsurance Group of America worth $16,351,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RGA. Wealth Enhancement Advisory Services LLC lifted its stake in Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock valued at $1,729,000 after buying an additional 2,428 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Reinsurance Group of America by 13.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider’s stock worth $768,000 after acquiring an additional 452 shares during the period. Golden State Wealth Management LLC grew its holdings in 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 worth $29,000 after acquiring an additional 92 shares during the period. Asset Management One Co. Ltd. boosted its position in Reinsurance Group of America by 1,265.2% during the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider’s stock worth $1,290,000 after purchasing an additional 6,073 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Reinsurance Group of America by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider’s stock worth $33,984,000 after purchasing an additional 12,217 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.7%

Shares of Reinsurance Group of America stock opened at $190.79 on Wednesday. The business’s fifty day moving average price is $191.97 and its two-hundred day moving average price is $193.74. 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 company has a market capitalization of $12.61 billion, a P/E ratio of 16.56 and a beta of 0.59. 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 data on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm posted $5.48 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America’s dividend payout ratio is presently 32.29%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley decreased their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research 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, Wells Fargo & Company dropped their target price on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.27.

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.