California State Teachers Retirement System Buys 4,639 Shares of Reinsurance Group of America Inc (RGA)

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California State Teachers Retirement System raised its stake in shares of Reinsurance Group of America Inc (NYSE:RGA) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,518 shares of the insurance provider’s stock after acquiring an additional 4,639 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Reinsurance Group of America worth $17,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investec Asset Management LTD boosted its position in Reinsurance Group of America by 130.2% during the 4th quarter. Investec Asset Management LTD now owns 154,701 shares of the insurance provider’s stock valued at $24,123,000 after acquiring an additional 87,495 shares in the last quarter. Commerce Bank boosted its position in Reinsurance Group of America by 7.0% during the 4th quarter. Commerce Bank now owns 15,187 shares of the insurance provider’s stock valued at $2,368,000 after acquiring an additional 1,000 shares in the last quarter. MML Investors Services LLC boosted its position in Reinsurance Group of America by 115.7% during the 4th quarter. MML Investors Services LLC now owns 3,249 shares of the insurance provider’s stock valued at $507,000 after acquiring an additional 1,743 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Reinsurance Group of America by 1.0% during the 4th quarter. State of Wisconsin Investment Board now owns 63,671 shares of the insurance provider’s stock valued at $9,928,000 after acquiring an additional 605 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Reinsurance Group of America by 15.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 384,736 shares of the insurance provider’s stock valued at $59,992,000 after acquiring an additional 50,371 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

In other Reinsurance Group of America news, EVP Alain Neemeh sold 2,955 shares of Reinsurance Group of America stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $153.66, for a total transaction of $454,065.30. Following the completion of the sale, the executive vice president now owns 37,492 shares of the company’s stock, valued at approximately $5,761,020.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J Cliff Eason sold 2,991 shares of Reinsurance Group of America stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $150.84, for a total value of $451,162.44. Following the sale, the director now directly owns 8,800 shares of the company’s stock, valued at approximately $1,327,392. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Reinsurance Group of America opened at $138.99 on Friday, MarketBeat reports. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.14 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.73. Reinsurance Group of America Inc has a 1-year low of $125.90 and a 1-year high of $165.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, April 26th. The insurance provider reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.48 by ($0.87). The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Reinsurance Group of America had a return on equity of 8.04% and a net margin of 14.01%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. equities research analysts expect that Reinsurance Group of America Inc will post 11.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Tuesday, May 8th were given a dividend of $0.50 per share. The ex-dividend date was Monday, May 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. Reinsurance Group of America’s dividend payout ratio is currently 18.45%.

RGA has been the topic of several recent research reports. Zacks Investment Research raised Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a research report on Wednesday, March 28th. Wells Fargo & Co set a $165.00 target price on Reinsurance Group of America and gave the company a “hold” rating in a research report on Thursday, April 26th. UBS Group assumed coverage on Reinsurance Group of America in a research report on Friday, March 2nd. They set a “neutral” rating and a $168.00 target price on the stock. ValuEngine cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Morgan Stanley lowered their price objective 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $159.78.

About Reinsurance Group of America

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.

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

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