Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Comerica Bank

Comerica Bank trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,484 shares of the insurance provider's stock after selling 1,708 shares during the period. Comerica Bank's holdings in Reinsurance Group of America were worth $6,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Spire Wealth Management boosted its holdings in shares of Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock valued at $43,000 after buying an additional 57 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Reinsurance Group of America during the fourth quarter worth $44,000. Versant Capital Management Inc lifted its holdings in shares of Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock valued at $62,000 after purchasing an additional 80 shares during the last quarter. Private Trust Co. NA grew its stake in Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider's stock worth $66,000 after buying an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Reinsurance Group of America during the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Trading Up 0.6 %

Shares of Reinsurance Group of America stock traded up $1.28 during mid-day trading on Wednesday, hitting $199.47. The stock had a trading volume of 348,989 shares, compared to its average volume of 405,428. The firm has a market cap of $13.18 billion, a P/E ratio of 18.57 and a beta of 0.57. 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 firm has a 50-day moving average of $188.81 and a two-hundred day moving average of $207.16. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The firm had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the business earned $6.02 EPS. The company's quarterly revenue was down 17.0% compared to the same quarter last year. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio is presently 30.04%.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Finally, UBS Group reiterated a "neutral" rating and set a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $230.69.

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.