Reinsurance Group of America, Incorporated $RGA Stock Holdings Lifted by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in Reinsurance Group of America by 3.4% in the first quarter, lifting its holdings to 149,514 shares worth about $30.5 million.
• RGA reported strong quarterly results, with EPS of $6.97 beating estimates and revenue of $6.49 billion, up 23.5% year over year. The company also maintained a modest dividend yield of 1.5% with a low payout ratio of 20.15%.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $255.50, while several price targets were recently raised. Insiders also sold shares in May, including EVP Ronald Herrmann and EVP John W. Hayden.

Principal Financial Group Inc. boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,514 shares of the insurance provider's stock after buying an additional 4,913 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Reinsurance Group of America worth $30,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. AQR Capital Management LLC lifted its stake in shares of Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after purchasing an additional 987,014 shares during the last quarter. Norges Bank acquired a new position in Reinsurance Group of America during the 4th quarter valued at $173,767,000. Orion Porfolio Solutions LLC lifted its stake in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after buying an additional 592,748 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $69,426,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America during the third quarter worth $35,266,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 0.1%

Shares of RGA opened at $241.60 on Monday. The stock has a market capitalization of $15.83 billion, a PE ratio of 13.09 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $244.30. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average is $213.97 and its 200-day moving average is $209.68.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm posted $5.66 earnings per share. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio is currently 20.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on RGA shares. UBS Group boosted their price target on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Piper Sandler dropped their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Wall Street Zen upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Barclays upped their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $255.50.

Insiders Place Their Bets

In other news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company's stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John W. Hayden sold 414 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company's stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated NYSE: RGA is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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