Invesco Ltd. Sells 329,750 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Invesco Ltd. cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 34.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 614,885 shares of the insurance provider's stock after selling 329,750 shares during the quarter. Invesco Ltd. owned about 0.93% of Reinsurance Group of America worth $121,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Reinsurance Group of America by 38.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock valued at $1,729,000 after purchasing an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Reinsurance Group of America by 13.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after purchasing an additional 452 shares during the period. Golden State Wealth Management LLC grew its position in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Reinsurance Group of America by 1,265.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after purchasing an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Reinsurance Group of America by 7.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after purchasing an additional 12,217 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 0.4%

Shares of Reinsurance Group of America stock opened at $189.14 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The stock has a market cap of $12.50 billion, a P/E ratio of 16.42 and a beta of 0.61. 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 business's 50 day moving average is $194.07 and its 200-day moving average is $196.28.

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 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 company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company earned $5.48 EPS. The company's revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal 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 paid a dividend of $0.93 per share. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

Analyst Ratings Changes

Several brokerages recently issued reports on RGA. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company reduced 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 report on Monday, August 4th. Keefe, Bruyette & Woods upped their price target 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. Morgan Stanley upped their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $243.64.

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.

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