Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 636,307 shares of the insurance provider's stock after selling 33,248 shares during the quarter. Bank of New York Mellon Corp owned about 0.96% of Reinsurance Group of America worth $125,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alpine Bank Wealth Management purchased a new stake in shares of Reinsurance Group of America during the 1st quarter worth about $28,000. Colonial Trust Co SC boosted its holdings in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after acquiring an additional 57 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 worth $29,000 after acquiring an additional 92 shares during the period. SBI Securities Co. Ltd. purchased a new position in Reinsurance Group of America in the 4th quarter worth approximately $44,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Reinsurance Group of America by 78.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider's stock worth $61,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RGA shares. Morgan Stanley set a $209.00 target price on Reinsurance Group of America and gave the company an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Wells Fargo & Company upped their price target on Reinsurance Group of America from $248.00 to $249.00 and gave the company an "overweight" rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target 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, JPMorgan Chase & Co. upped 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. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.92.

Reinsurance Group of America Price Performance

RGA stock traded down $2.46 during trading hours on Friday, hitting $194.19. 412,683 shares of the stock traded hands, compared to its average volume of 413,953. The stock has a 50-day simple moving average of $200.46 and a 200 day simple moving average of $201.12. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a market cap of $12.83 billion, a P/E ratio of 16.39 and a beta of 0.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, beating 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 analysts' expectations of $5.74 billion. During the same quarter last year, the business posted $6.02 earnings per share. The company's quarterly revenue was down 17.0% on a year-over-year basis. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio is 30.04%.

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.