Zurcher Kantonalbank Zurich Cantonalbank Sells 3,198 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its holdings in Reinsurance Group of America by 6.9%, now owning 43,467 shares valued at approximately $8.56 million.
• Several hedge funds have adjusted their stakes, with notable increases from Cornerstone Planning Group LLC (224.1%) and Golden State Wealth Management LLC (164.3%) in the first quarter.
• Analysts have set a consensus target price of $244.36 for Reinsurance Group of America, with a majority rating it a "Moderate Buy."

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,467 shares of the insurance provider's stock after selling 3,198 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Reinsurance Group of America worth $8,559,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RGA. JPMorgan Chase & Co. boosted its stake in shares of Reinsurance Group of America by 1.3% during the fourth quarter. JPMorgan Chase & Co. now owns 369,732 shares of the insurance provider's stock valued at $78,986,000 after purchasing an additional 4,779 shares during the period. Pictet Asset Management Holding SA lifted its stake in Reinsurance Group of America by 3.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,847 shares of the insurance provider's stock worth $1,890,000 after acquiring an additional 290 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth $2,031,000. Brown Brothers Harriman & Co. lifted its stake in Reinsurance Group of America by 265.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 395 shares of the insurance provider's stock worth $84,000 after acquiring an additional 287 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth $512,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RGA. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $249.00 price target (up previously from $248.00) on shares of Reinsurance Group of America in a research note on Thursday, July 10th. Morgan Stanley raised their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus target price of $244.36.

Reinsurance Group of America Stock Down 7.8%

Shares of RGA traded down $15.07 during trading hours on Friday, hitting $177.38. The company had a trading volume of 1,819,821 shares, compared to its average volume of 328,415. The firm has a fifty day moving average price of $197.24 and a 200-day moving average price of $198.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 15.40 and a beta of 0.61. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.82% and a net margin of 3.54%. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.48 EPS. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.1%. The ex-dividend date is 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 30.90%.

Reinsurance Group of America 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.