Retirement Systems of Alabama Increases Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Retirement Systems of Alabama lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 13.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,973 shares of the insurance provider's stock after purchasing an additional 21,589 shares during the period. Retirement Systems of Alabama owned about 0.28% of Reinsurance Group of America worth $36,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in Reinsurance Group of America by 389.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider's stock worth $239,911,000 after buying an additional 893,537 shares during the last quarter. Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter worth about $174,082,000. FMR LLC lifted its holdings in Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock worth $1,205,042,000 after buying an additional 564,693 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Reinsurance Group of America by 54,931.6% during the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock worth $93,512,000 after buying an additional 474,060 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Reinsurance Group of America by 6,944.4% during the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock worth $60,963,000 after buying an additional 281,317 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley set a $209.00 price target on Reinsurance Group of America and gave the stock an "equal weight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $232.00 to $237.00 in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has an average rating of "Moderate Buy" and an average price target of $228.85.

Reinsurance Group of America Stock Performance

RGA stock traded up $0.50 during trading on Friday, hitting $196.00. The company had a trading volume of 480,892 shares, compared to its average volume of 413,159. The firm has a market cap of $12.95 billion, a PE ratio of 16.54 and a beta of 0.63. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The firm has a 50-day moving average price of $197.46 and a 200-day moving average price of $202.51. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.50.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. The firm had revenue of $5.26 billion for the quarter, compared to analysts' expectations of $5.74 billion. Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. The firm's revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.02 EPS. On average, analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.04%.

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.