Canada Pension Plan Investment Board Has $5.12 Million Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Canada Pension Plan Investment Board reduced its stake in Reinsurance Group of America by 54.2% during the 1st quarter, leaving it with 26,000 shares valued at approximately $5.12 million.
• Reinsurance Group of America recently increased its quarterly dividend to $0.93 per share, reflecting a yield of 1.9% and an annualized payout of $3.72.
• JPMorgan Chase & Co. raised the price target for Reinsurance Group of America from $237.00 to $264.00, while the company has received an overall rating of "Moderate Buy" from analysts.

Canada Pension Plan Investment Board decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 54.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,000 shares of the insurance provider's stock after selling 30,800 shares during the quarter. Canada Pension Plan Investment Board's holdings in Reinsurance Group of America were worth $5,119,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Reinsurance Group of America in the first quarter worth $28,000. Colonial Trust Co SC grew its stake in shares of Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RGA. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Morgan Stanley decreased their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Finally, Wells Fargo & Company decreased their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research note 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Trading Up 0.3%

Shares of NYSE:RGA traded up $0.63 during midday trading on Tuesday, reaching $192.85. The company had a trading volume of 46,503 shares, compared to its average volume of 444,061. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current 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 has a market cap of $12.75 billion, a price-to-earnings ratio of 16.79 and a beta of 0.59. The company has a fifty day simple moving average of $192.14 and a two-hundred day simple moving average of $193.77.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the business earned $5.48 EPS. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

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

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.