DekaBank Deutsche Girozentrale Buys 1,339 Shares of Reinsurance Group of America, Incorporated $RGA

DekaBank Deutsche Girozentrale increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.0% during the 2nd quarter, Holdings Channel reports. The fund owned 7,428 shares of the insurance provider’s stock after acquiring an additional 1,339 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Reinsurance Group of America were worth $1,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Reinsurance Group of America by 13.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider’s stock valued at $768,000 after buying an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock valued at $1,729,000 after buying an additional 2,428 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Reinsurance Group of America by 1,265.2% in the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider’s stock valued at $1,290,000 after buying an additional 6,073 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Reinsurance Group of America in the second quarter valued at $388,000. 95.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RGA. Wells Fargo & Company cut their target price on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Saturday. Raymond James Financial cut Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Morgan Stanley cut their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $241.56.

Reinsurance Group of America Stock Down 0.2%

RGA opened at $189.46 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day moving average is $191.76 and its 200 day moving average is $193.71. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a market capitalization of $12.52 billion, a P/E ratio of 16.45 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $5.48 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.93 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America’s payout ratio is presently 32.29%.

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.