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

California Public Employees Retirement System lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 65.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,152 shares of the insurance provider’s stock after buying an additional 86,698 shares during the period. California Public Employees Retirement System’s holdings in Reinsurance Group of America were worth $35,454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RGA. Adage Capital Partners GP L.L.C. grew its position in shares of Reinsurance Group of America by 966.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after buying an additional 290,000 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Reinsurance Group of America by 33.5% in the 3rd quarter. AQR Capital Management LLC now owns 709,359 shares of the insurance provider’s stock valued at $102,992,000 after buying an additional 177,812 shares during the last quarter. American Century Companies Inc. boosted its stake in Reinsurance Group of America by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock worth $378,288,000 after purchasing an additional 177,299 shares during the period. Envestnet Asset Management Inc. boosted its stake in Reinsurance Group of America by 63.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 347,114 shares of the insurance provider’s stock worth $50,397,000 after purchasing an additional 134,997 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Reinsurance Group of America by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock worth $1,067,264,000 after purchasing an additional 110,877 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. UBS Group raised their target price on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley raised their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price target on shares of Reinsurance Group of America in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.38.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $188.78 on Friday. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 14.06 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, Incorporated has a 1 year low of $133.13 and a 1 year high of $196.25. The firm has a 50 day moving average price of $184.46 and a 200 day moving average price of $169.25.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. Reinsurance Group of America’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.99 earnings per share. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 19.41 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

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

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the transaction, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 13,625 shares in the company, valued at $2,341,183.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock valued at $1,162,239 over the last ninety days. Corporate 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.