Kestra Private Wealth Services LLC Reduces Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Kestra Private Wealth Services LLC reduced its stake in Reinsurance Group of America by 47.0% in the first quarter, leaving it with 1,942 shares valued at $382,000.
• Institutional investors hold 95.11% of Reinsurance Group of America's stock, with several hedge funds increasing their stakes significantly during the same period.
• The company announced a quarterly dividend of $0.89, representing an annualized dividend of $3.56 and a yield of 1.81%.

Kestra Private Wealth Services LLC reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,942 shares of the insurance provider's stock after selling 1,720 shares during the period. Kestra Private Wealth Services LLC's holdings in Reinsurance Group of America were worth $382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings 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 buying an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings 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 buying an additional 452 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 buying an additional 92 shares during the period. Asset Management One Co. Ltd. boosted its holdings 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 buying an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Reinsurance Group of America by 7.7% during 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RGA. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. UBS Group restated a "neutral" rating and set a $216.00 price target (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on shares of 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. Wells Fargo & Company restated an "overweight" rating and set a $249.00 price target (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $244.36.

Reinsurance Group of America Stock Up 1.3%

NYSE RGA opened at $196.30 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. The company's 50 day simple moving average is $198.76 and its 200 day simple moving average is $199.59. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a market capitalization of $12.97 billion, a P/E ratio of 16.56 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the previous year, the firm earned $6.02 EPS. The business's revenue for the quarter was down 17.0% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm 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. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.81%. Reinsurance Group of America's payout ratio is currently 30.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.