Employees Retirement System of Texas reduced its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,000 shares of the insurance provider’s stock after selling 5,000 shares during the quarter. Employees Retirement System of Texas owned approximately 0.05% of Reinsurance Group of America worth $5,390,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors bought a new stake in Reinsurance Group of America during the fourth quarter worth $116,000. Focused Wealth Management Inc purchased a new stake in Reinsurance Group of America in the fourth quarter worth $156,000. Synovus Financial Corp purchased a new stake in Reinsurance Group of America in the first quarter worth $183,000. Parkside Financial Bank & Trust increased its position in Reinsurance Group of America by 250.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,195 shares of the insurance provider’s stock worth $186,000 after buying an additional 854 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Reinsurance Group of America in the fourth quarter worth $217,000. Institutional investors and hedge funds own 93.77% of the company’s stock.

RGA has been the subject of a number of recent research reports. UBS Group initiated coverage on Reinsurance Group of America in a research report on Friday, March 2nd. They issued a “neutral” rating and a $168.00 target price for the company. Zacks Investment Research downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Morgan Stanley decreased their target price on Reinsurance Group of America from $138.00 to $135.00 and set an “underweight” rating for the company in a research report on Thursday, April 5th. Credit Suisse Group initiated coverage on Reinsurance Group of America in a research report on Wednesday, April 25th. They issued a “neutral” rating and a $164.00 target price for the company. Finally, Wells Fargo & Co set a $165.00 target price on Reinsurance Group of America and gave the stock a “hold” rating in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $159.78.

In other news, EVP Alain Neemeh sold 2,955 shares of Reinsurance Group of America stock in a transaction on Monday, May 7th. The stock was sold at an average price of $153.66, for a total value of $454,065.30. Following the completion of the transaction, the executive vice president now directly owns 37,492 shares in the company, valued at $5,761,020.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy T. Matson purchased 300 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 1st. The stock was bought at an average price of $149.15 per share, with a total value of $44,745.00. Following the completion of the transaction, the executive vice president now owns 2,095 shares of the company’s stock, valued at approximately $312,469.25. The disclosure for this purchase can be found here. 1.47% of the stock is currently owned by insiders.

NYSE:RGA opened at $149.44 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.12 and a quick ratio of 0.12. Reinsurance Group of America Inc has a 1 year low of $122.37 and a 1 year high of $165.12. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.43 and a beta of 0.75.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, April 26th. The insurance provider reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.48 by ($0.87). The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Reinsurance Group of America had a net margin of 14.01% and a return on equity of 8.04%. Reinsurance Group of America’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. equities research analysts predict that Reinsurance Group of America Inc will post 11.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 8th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, May 7th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 18.45%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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