Envestnet Portfolio Solutions Inc. Reduces Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Envestnet Portfolio Solutions Inc. cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 28.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,962 shares of the insurance provider's stock after selling 9,279 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Reinsurance Group of America were worth $4,521,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Reinsurance Group of America by 19.2% during the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider's stock valued at $38,895,000 after purchasing an additional 29,352 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Reinsurance Group of America by 6.2% during the fourth quarter. Sanctuary Advisors LLC now owns 11,094 shares of the insurance provider's stock valued at $2,564,000 after purchasing an additional 651 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $70,000. Global Retirement Partners LLC raised its holdings in shares of Reinsurance Group of America by 69.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,312 shares of the insurance provider's stock valued at $280,000 after purchasing an additional 539 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in Reinsurance Group of America by 291.9% during the fourth quarter. Ieq Capital LLC now owns 4,178 shares of the insurance provider's stock valued at $892,000 after buying an additional 3,112 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RGA has been the topic of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.85.

Reinsurance Group of America Price Performance

RGA stock traded up $2.75 during trading on Monday, hitting $198.54. 247,142 shares of the company's stock traded hands, compared to its average volume of 412,495. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. The business has a fifty day simple moving average of $197.46 and a 200 day simple moving average of $202.38. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 8.80 and a beta of 0.63.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter last year, the business earned $6.02 earnings per share. Reinsurance Group of America's quarterly revenue was down 17.0% compared to the same quarter last year. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.89 per share. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 annualized dividend and a yield of 1.79%. Reinsurance Group of America's dividend payout ratio (DPR) is currently 30.04%.

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.