Citigroup Inc. Sells 36,574 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Citigroup Inc. reduced its stake in Reinsurance Group of America by 43.6%, owning approximately 0.07% of the company with shares worth $9.3 million after selling 36,574 shares in the first quarter.
• Reinsurance Group of America recently increased its quarterly dividend to $0.93 per share, up from $0.89, indicating a robust return for stockholders with a yield of 2.0%.
• Analysts have set various price targets for RGA, with a consensus target of $243.64, reflecting a general sentiment of a Moderate Buy rating among research firms.

Citigroup Inc. lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 43.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,262 shares of the insurance provider's stock after selling 36,574 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Reinsurance Group of America worth $9,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of Reinsurance Group of America during the first quarter worth $28,000. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Reinsurance Group of America by 164.3% during the 1st 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 lifted its holdings in shares of Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after buying an additional 121 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after buying an additional 89 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RGA. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price target 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. Morgan Stanley cut their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Performance

RGA traded up $3.1090 during midday trading on Wednesday, reaching $192.2290. The company's stock had a trading volume of 146,645 shares, compared to its average volume of 457,056. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The stock has a market cap of $12.70 billion, a P/E ratio of 16.68 and a beta of 0.61. The company has a fifty day simple moving average of $193.15 and a 200 day simple moving average of $195.19. The company has a current ratio of 0.16, a quick 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 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). The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company's revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.48 EPS. Research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.93 dividend. The ex-dividend date is Tuesday, August 12th. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio is 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.