Retirement Systems of Alabama Has $24.11 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Retirement Systems of Alabama reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 149,043 shares of the insurance provider’s stock after selling 131 shares during the period. Retirement Systems of Alabama owned about 0.23% of Reinsurance Group of America worth $24,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RGA. Tectonic Advisors LLC bought a new position in shares of Reinsurance Group of America in the third quarter worth $275,000. FinTrust Capital Advisors LLC raised its holdings in shares of Reinsurance Group of America by 69.4% during the third quarter. FinTrust Capital Advisors LLC now owns 754 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 309 shares in the last quarter. Raymond James & Associates lifted its position in shares of Reinsurance Group of America by 1.3% in the 3rd quarter. Raymond James & Associates now owns 216,578 shares of the insurance provider’s stock worth $31,445,000 after purchasing an additional 2,825 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Reinsurance Group of America by 54.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,418 shares of the insurance provider’s stock valued at $932,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Reinsurance Group of America by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 918,023 shares of the insurance provider’s stock valued at $133,288,000 after purchasing an additional 13,229 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $189.54 on Tuesday. Reinsurance Group of America, Incorporated has a 1 year low of $133.13 and a 1 year high of $196.25. The company’s 50 day simple moving average is $184.88 and its 200-day simple moving average is $169.89. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 14.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. Reinsurance Group of America’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $2.99 earnings per share. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 19.41 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 annualized dividend and a yield of 1.79%. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares in the company, valued at $9,061,521.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock worth $1,162,239 over the last three months. 1.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RGA. UBS Group upped their price objective on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Evercore ISI upped their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 price objective on shares of Reinsurance Group of America in a research note on Friday, April 12th. Keefe, Bruyette & Woods boosted their price objective on Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a research note on Tuesday, April 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 stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $194.38.

Reinsurance Group of America 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.