Canada Pension Plan Investment Board Has $5.12 Million Position 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 cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 54.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,000 shares of the insurance provider's stock after selling 30,800 shares during the period. 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 Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Colonial Trust Co SC raised its stake 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 worth $29,000 after buying an additional 57 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Reinsurance Group of America during the first quarter worth approximately $28,000. Golden State Wealth Management LLC raised its stake 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 worth $29,000 after buying an additional 92 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after buying an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in 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 purchasing an additional 121 shares during the period. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley lowered their target price on shares of 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. Wells Fargo & Company lowered their target price on shares of 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. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.27.

Reinsurance Group of America Stock Down 2.3%

RGA traded down $4.56 during trading on Friday, hitting $193.03. The company had a trading volume of 301,898 shares, compared to its average volume of 307,044. The company has a market capitalization of $12.76 billion, a PE ratio of 16.76 and a beta of 0.59. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The firm's 50-day moving average price is $192.27 and its 200 day moving average price is $193.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing the consensus estimate 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 business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the company posted $5.48 EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.93 per share. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 1.9%. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

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.