Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Holdings Lessened by Banco Santander S.A.

Key Points

• Banco Santander S.A. reduced its holdings in Reinsurance Group of America by 38.3%, owning 32,653 shares, valued at approximately $6.43 million.
• Analysts have mixed opinions on RGA, with four rating holds and eight assigning buy ratings, while the current consensus rating is a "Moderate Buy" with a target price of $244.36.
• Reinsurance Group of America announced a quarterly dividend increase to $0.93 per share, reflecting a 2.1% yield and a payout ratio of 30.90%.

Banco Santander S.A. reduced its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 38.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,653 shares of the insurance provider's stock after selling 20,274 shares during the quarter. Banco Santander S.A.'s holdings in Reinsurance Group of America were worth $6,429,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RGA. Wealth Enhancement Advisory Services LLC lifted its position in Reinsurance Group of America by 38.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock valued at $1,729,000 after purchasing an additional 2,428 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Reinsurance Group of America by 13.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after purchasing an additional 452 shares during the last quarter. Golden State Wealth Management LLC lifted its position 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. Asset Management One Co. Ltd. lifted its position in Reinsurance Group of America by 1,265.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after purchasing an additional 6,073 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Reinsurance Group of America by 7.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after purchasing an additional 12,217 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on RGA shares. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Wells Fargo & Company restated an "overweight" rating and set a $249.00 price target (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.36.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $177.38 on Friday. The firm's 50 day moving average is $197.24 and its 200-day moving average is $198.57. The stock has a market capitalization of $11.72 billion, a P/E ratio of 15.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick 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.

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). The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a return on equity of 12.82% and a net margin of 3.54%. The business's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.48 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $3.72 annualized dividend and a dividend yield of 2.1%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio is presently 30.90%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.