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

Principal Financial Group Inc. grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RGA. Vanguard Group Inc. lifted its holdings in Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider's stock valued at $1,541,121,000 after buying an additional 51,733 shares during the period. FMR LLC grew its position in Reinsurance Group of America by 11.1% in the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock valued at $1,205,042,000 after purchasing an additional 564,693 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Reinsurance Group of America by 1.3% in the 1st quarter. WCM Investment Management LLC now owns 2,514,042 shares of the insurance provider's stock valued at $492,400,000 after acquiring an additional 33,292 shares during the period. Alliancebernstein L.P. grew its position in shares of Reinsurance Group of America by 389.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider's stock valued at $239,911,000 after acquiring an additional 893,537 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Reinsurance Group of America by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider's stock valued at $238,031,000 after acquiring an additional 4,106 shares during the period. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.9%

RGA stock opened at $197.79 on Monday. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-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 company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 16.69 and a beta of 0.62. The business has a 50 day simple moving average of $199.99 and a two-hundred day simple moving average of $201.48.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the prior year, the company posted $6.02 EPS. The firm's revenue for the quarter was down 17.0% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS 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. Stockholders of record on Tuesday, May 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.80%. Reinsurance Group of America's dividend payout ratio is currently 30.04%.

Analysts Set New Price Targets

Several brokerages have weighed in on RGA. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average price target of $228.85.

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.

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