Cetera Investment Advisers increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,216 shares of the insurance provider's stock after buying an additional 3,421 shares during the quarter. Cetera Investment Advisers' holdings in Reinsurance Group of America were worth $5,556,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock worth $1,205,042,000 after purchasing an additional 564,693 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Reinsurance Group of America by 1.3% during the first quarter. WCM Investment Management LLC now owns 2,514,042 shares of the insurance provider's stock worth $492,400,000 after purchasing an additional 33,292 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Reinsurance Group of America by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider's stock worth $238,031,000 after purchasing an additional 4,106 shares during the last quarter. Invesco Ltd. lifted its position in shares of Reinsurance Group of America by 34.4% during the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider's stock worth $201,802,000 after purchasing an additional 241,669 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Reinsurance Group of America by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 791,378 shares of the insurance provider's stock valued at $169,058,000 after buying an additional 50,997 shares during the period. 95.11% of the stock is currently owned by institutional investors.
Reinsurance Group of America Stock Down 0.3%
Shares of RGA traded down $0.56 during mid-day trading on Monday, hitting $176.77. 1,159,942 shares of the company traded hands, compared to its average volume of 456,728. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.68 billion, a PE ratio of 15.34 and a beta of 0.61. The business has a 50 day moving average of $197.24 and a 200 day moving average of $198.39.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the company earned $5.48 EPS. The business's revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.
Reinsurance Group of America Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.1%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is currently 30.90%.
Wall Street Analyst Weigh In
RGA has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday. Morgan Stanley lifted their price objective on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.64.
Check Out Our Latest Stock Analysis on RGA
Reinsurance Group of America Profile
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Free Report)
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.
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