Texas Permanent School Fund Corp Buys 746 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Texas Permanent School Fund Corp boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 57,680 shares of the insurance provider’s stock after buying an additional 746 shares during the period. Texas Permanent School Fund Corp’s holdings in Reinsurance Group of America were worth $11,125,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Reinsurance Group of America by 1.5% during the third quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock valued at $1,067,264,000 after buying an additional 110,877 shares during the period. American Century Companies Inc. boosted its stake in Reinsurance Group of America by 7.3% during the third quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock valued at $378,288,000 after buying an additional 177,299 shares during the period. Nuance Investments LLC boosted its stake in Reinsurance Group of America by 14.7% during the fourth quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock valued at $180,233,000 after buying an additional 142,627 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter valued at $122,301,000. Finally, Sei Investments Co. boosted its stake in Reinsurance Group of America by 18.1% during the fourth quarter. Sei Investments Co. now owns 737,875 shares of the insurance provider’s stock valued at $119,373,000 after buying an additional 113,306 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.5 %

Shares of NYSE RGA traded up $1.11 during trading hours on Friday, hitting $212.85. The company’s stock had a trading volume of 3,340 shares, compared to its average volume of 347,418. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 16.45 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 12 month low of $135.07 and a 12 month high of $213.21. The business has a 50-day simple moving average of $206.62 and a 200-day simple moving average of $187.52.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period last year, the firm earned $5.16 earnings per share. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 21.11 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a yield of 1.60%. Reinsurance Group of America’s payout ratio is 26.42%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RGA. Morgan Stanley lifted their price objective on Reinsurance Group of America from $216.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Evercore ISI raised their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. UBS Group raised their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Raymond James raised their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.45.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

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.