Reinsurance Group of America, Incorporated (NYSE:RGA) Position Cut by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,531 shares of the insurance provider's stock after selling 3,300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Reinsurance Group of America worth $15,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Monument Capital Management grew its stake in shares of Reinsurance Group of America by 3.2% during the 1st quarter. Monument Capital Management now owns 13,807 shares of the insurance provider's stock valued at $2,719,000 after buying an additional 424 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Reinsurance Group of America by 7.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after acquiring an additional 12,217 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in Reinsurance Group of America during the first quarter valued at about $28,000. Golden State Wealth Management LLC increased its stake in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Lecap Asset Management Ltd. raised its holdings in shares of Reinsurance Group of America by 324.7% in the 1st quarter. Lecap Asset Management Ltd. now owns 11,998 shares of the insurance provider's stock worth $2,362,000 after purchasing an additional 9,173 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 0.9%

Shares of NYSE:RGA traded up $1.70 during midday trading on Thursday, reaching $197.79. The company had a trading volume of 227,886 shares, compared to its average volume of 412,905. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. 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 stock has a market capitalization of $13.07 billion, a P/E ratio of 16.69 and a beta of 0.62. The stock's fifty day moving average price is $199.66 and its 200-day moving average price is $201.67.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $0.33. The business had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The company's revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.02 EPS. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio is presently 30.04%.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group reissued a "neutral" rating and issued a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Evercore ISI decreased their target price on 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. Wells Fargo & Company raised their target price on Reinsurance Group of America from $246.00 to $248.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $228.85.

About Reinsurance Group of America

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.