HighTower Advisors LLC Has $8.06 Million Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

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HighTower Advisors LLC cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,933 shares of the insurance provider's stock after selling 5,289 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Reinsurance Group of America worth $8,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC grew its stake in shares of Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after buying an additional 57 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Reinsurance Group of America in the first quarter valued at $28,000. Golden State Wealth Management LLC grew its stake in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after buying an additional 92 shares in the last quarter. TCTC Holdings LLC grew its stake in shares of Reinsurance Group of America by 107.2% in the first 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. Finally, Cornerstone Planning Group LLC grew its stake in shares of Reinsurance Group of America by 224.1% in the first 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 in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

Shares of RGA traded up $2.1370 during midday trading on Friday, reaching $193.4870. 284,380 shares of the stock were exchanged, compared to its average volume of 547,345. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month 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 cap of $12.79 billion, a P/E ratio of 16.80 and a beta of 0.61. The stock's 50 day simple moving average is $192.80 and its 200 day simple moving average is $194.20.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business posted $5.48 EPS. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. On average, sell-side 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 company also recently announced 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 is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's payout ratio is 32.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley decreased 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 cut their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Keefe, Bruyette & Woods raised their price target 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, JPMorgan Chase & Co. raised their price target 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. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Company 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.