California Public Employees Retirement System Boosts Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

California Public Employees Retirement System raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 65.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,152 shares of the insurance provider’s stock after buying an additional 86,698 shares during the quarter. California Public Employees Retirement System owned about 0.33% of Reinsurance Group of America worth $35,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in shares of Reinsurance Group of America by 23.1% during the third quarter. AE Wealth Management LLC now owns 7,875 shares of the insurance provider’s stock worth $1,143,000 after purchasing an additional 1,479 shares in the last quarter. Tectonic Advisors LLC purchased a new position in shares of Reinsurance Group of America during the third quarter worth about $275,000. FinTrust Capital Advisors LLC grew 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 worth $109,000 after purchasing an additional 309 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Reinsurance Group of America by 1.3% during the third 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 in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Reinsurance Group of America by 54.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,418 shares of the insurance provider’s stock worth $932,000 after purchasing an additional 2,267 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Royal Bank of Canada restated an “outperform” rating and set a $212.00 target price on shares of Reinsurance Group of America in a report on Friday, April 12th. UBS Group increased their price objective on 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 raised their price target on Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley lifted their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.38.

Reinsurance Group of America Stock Down 1.2 %

NYSE RGA opened at $188.78 on Friday. Reinsurance Group of America, Incorporated has a one year low of $133.13 and a one year high of $196.25. The company has a market capitalization of $12.42 billion, a P/E ratio of 14.06 and a beta of 0.89. The stock has a 50 day moving average price of $184.46 and a 200-day moving average price of $169.25. 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 announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm earned $2.99 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America’s payout ratio is 25.32%.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock valued at $1,162,239 over the last 90 days. Insiders own 1.37% of the company’s stock.

About Reinsurance Group of America

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.