Bank of America Corp DE Sells 153,351 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Bank of America Corp DE trimmed its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,468,956 shares of the insurance provider's stock after selling 153,351 shares during the period. Bank of America Corp DE owned approximately 2.23% of Reinsurance Group of America worth $313,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Reinsurance Group of America by 5.5% during the third quarter. Barclays PLC now owns 102,790 shares of the insurance provider's stock valued at $22,396,000 after buying an additional 5,398 shares in the last quarter. Franklin Resources Inc. grew its position in Reinsurance Group of America by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider's stock worth $16,862,000 after purchasing an additional 5,699 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Reinsurance Group of America in the third quarter valued at $219,000. GAMMA Investing LLC boosted its position in shares of Reinsurance Group of America by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 863 shares of the insurance provider's stock worth $184,000 after buying an additional 254 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Reinsurance Group of America by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider's stock valued at $19,232,000 after buying an additional 4,119 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RGA has been the topic of a number of research reports. Morgan Stanley dropped their target price on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. UBS Group restated a "neutral" rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.69.

Reinsurance Group of America Price Performance

NYSE:RGA traded up $2.95 during mid-day trading on Friday, reaching $205.01. 471,379 shares of the company were exchanged, compared to its average volume of 405,259. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.55 billion, a PE ratio of 19.09 and a beta of 0.57. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a fifty day moving average of $189.13 and a 200 day moving average of $206.97.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $0.33. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Reinsurance Group of America's revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.02 earnings per share. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, May 13th. Reinsurance Group of America's payout ratio is 30.04%.

About Reinsurance Group of America

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.