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

Envestnet Portfolio Solutions Inc. lessened its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RGA. Principal Financial Group Inc. increased its position in Reinsurance Group of America by 19.2% during the 4th quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider's stock worth $38,895,000 after buying an additional 29,352 shares during the period. Sanctuary Advisors LLC increased 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 worth $2,564,000 after purchasing an additional 651 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $70,000. Global Retirement Partners LLC raised its position in shares of Reinsurance Group of America by 69.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,312 shares of the insurance provider's stock valued at $280,000 after buying an additional 539 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Reinsurance Group of America by 291.9% in 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 period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGA has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $232.00 to $237.00 in a research report on Wednesday, April 2nd. Evercore ISI lowered their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Morgan Stanley set a $209.00 target price on Reinsurance Group of America and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price target on Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average price target of $228.85.

Reinsurance Group of America Stock Down 1.1%

RGA traded down $2.24 during trading on Wednesday, hitting $195.29. 267,781 shares of the company's stock traded hands, compared to its average volume of 412,460. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company's 50 day simple moving average is $198.12 and its two-hundred day simple moving average is $202.20. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 16.48 and a beta of 0.63.

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

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio 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.