Northern Trust Corp Has $141.13 Million Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Northern Trust Corp has increased its stake in Reinsurance Group of America by 2.6%, owning approximately 716,782 shares valued at about $141 million at the end of the reporting period.
• Several other institutional investors have also boosted their holdings in RGA, with Colonial Trust Co SC leading with a 72.2% increase in its position during the 4th quarter.
• Reinsurance Group of America recently announced a quarterly dividend increase to $0.93 per share, showing a positive growth in its dividend payouts from the previous $0.89.

Northern Trust Corp grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 716,782 shares of the insurance provider's stock after buying an additional 18,182 shares during the quarter. Northern Trust Corp owned 1.08% of Reinsurance Group of America worth $141,134,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. Alpine Bank Wealth Management acquired a new stake in shares of Reinsurance Group of America during the first quarter worth about $28,000. Colonial Trust Co SC boosted its position in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Golden State Wealth Management LLC raised its stake in 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 last quarter. Cornerstone Planning Group LLC lifted its position in Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after buying an additional 121 shares during the period. Finally, TCTC Holdings LLC boosted its holdings in 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 acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley dropped 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 report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price objective 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 dropped their price target on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. 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 research report on Tuesday, July 8th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Stock Down 0.8%

NYSE:RGA traded down $1.47 on Thursday, hitting $192.56. 46,204 shares of the company's stock traded hands, compared to its average volume of 450,588. The company has a market cap of $12.73 billion, a PE ratio of 16.70 and a beta of 0.61. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $192.58 and a 200-day moving average price of $194.06. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81.

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 the consensus estimate 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 analysts' expectations of $5.70 billion. During the same quarter in the prior year, the business posted $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

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.