New York State Teachers Retirement System Reduces Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

New York State Teachers Retirement System cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,331 shares of the insurance provider’s stock after selling 800 shares during the period. New York State Teachers Retirement System owned about 0.13% of Reinsurance Group of America worth $18,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its position in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 63 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 79 shares during the period. Hilltop National Bank boosted its holdings in shares of Reinsurance Group of America by 13.1% in the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after buying an additional 82 shares during the last quarter. Lindbrook Capital LLC grew its position in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Reinsurance Group of America by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after buying an additional 92 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock traded up $1.85 on Friday, hitting $211.72. 71,141 shares of the company traded hands, compared to its average volume of 370,935. Reinsurance Group of America, Incorporated has a 52 week low of $135.57 and a 52 week high of $227.87. The business has a 50-day simple moving average of $209.16 and a 200 day simple moving average of $196.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $13.94 billion, a P/E ratio of 16.42 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.40 EPS. Research analysts expect that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods boosted their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. UBS Group raised their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada boosted their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $220.45.

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.