Principal Financial Group Inc. Buys 20,593 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202,662 shares of the insurance provider's stock after buying an additional 20,593 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Reinsurance Group of America worth $39,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Reinsurance Group of America by 600.0% during the 4th quarter. Jones Financial Companies Lllp now owns 700 shares of the insurance provider's stock valued at $149,000 after purchasing an additional 600 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Reinsurance Group of America in the 4th quarter worth about $44,000. Keybank National Association OH grew its position in shares of Reinsurance Group of America by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider's stock worth $500,000 after buying an additional 59 shares during the period. Assetmark Inc. grew its position in shares of Reinsurance Group of America by 1,868.4% in the 4th quarter. Assetmark Inc. now owns 748 shares of the insurance provider's stock worth $160,000 after buying an additional 710 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter worth about $8,671,000. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

RGA traded up $1.15 during trading on Thursday, reaching $196.43. 351,906 shares of the company traded hands, compared to its average volume of 412,632. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The firm has a fifty day simple moving average of $200.35 and a 200 day simple moving average of $201.32. The company has a market cap of $12.98 billion, a P/E ratio of 16.58 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $5.74 billion. During the same period last year, the firm posted $6.02 EPS. The company's revenue was down 17.0% on a year-over-year basis. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.04%.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of recent research reports. Evercore ISI reduced their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley set a $209.00 target price on shares of Reinsurance Group of America and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods increased 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 note on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $248.00 to $249.00 and gave the stock an "overweight" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.00.

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.