Principal Financial Group Inc. Has $29.50 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,443 shares of the insurance provider’s stock after selling 5,248 shares during the period. Principal Financial Group Inc. owned 0.40% of Reinsurance Group of America worth $29,501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RGA. Louisiana State Employees Retirement System increased its holdings in shares of Reinsurance Group of America by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the insurance provider’s stock valued at $1,905,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Reinsurance Group of America by 0.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,162 shares of the insurance provider’s stock valued at $2,098,000 after purchasing an additional 147 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Reinsurance Group of America by 321.7% in the fourth quarter. Spire Wealth Management now owns 253 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. US Bancorp DE increased its holdings in shares of Reinsurance Group of America by 1.5% in the third quarter. US Bancorp DE now owns 14,028 shares of the insurance provider’s stock valued at $1,561,000 after purchasing an additional 210 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Reinsurance Group of America by 9.0% in the third quarter. CIBC Asset Management Inc now owns 2,702 shares of the insurance provider’s stock valued at $301,000 after purchasing an additional 224 shares during the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

Several research firms have commented on RGA. Jefferies Financial Group began coverage on shares of Reinsurance Group of America in a report on Tuesday, January 25th. They issued a “buy” rating and a $130.00 price objective on the stock. Wolfe Research assumed coverage on shares of Reinsurance Group of America in a research note on Friday, January 21st. They issued an “underperform” rating and a $100.00 price target on the stock. Credit Suisse Group upped their price target on shares of Reinsurance Group of America from $76.00 to $80.00 and gave the company an “underperform” rating in a research note on Thursday, March 3rd. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 price target on the stock in a research note on Wednesday, April 6th. Finally, TheStreet downgraded shares of Reinsurance Group of America from a “b-” rating to a “c” rating in a research note on Thursday, May 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $122.10.

RGA opened at $117.91 on Friday. Reinsurance Group of America, Incorporated has a twelve month low of $94.32 and a twelve month high of $129.63. The company has a 50-day simple moving average of $109.54 and a 200 day simple moving average of $110.11. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 19.43 and a beta of 1.10.

Reinsurance Group of America (NYSE:RGAGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The insurance provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($0.55) by $1.02. Reinsurance Group of America had a net margin of 2.52% and a return on equity of 1.59%. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the business posted ($1.24) earnings per share. Reinsurance Group of America’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 9.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th will be issued a $0.73 dividend. The ex-dividend date is Monday, May 16th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.48%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 48.11%.

In other news, Director Christine Rose Detrick sold 4,300 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $113.34, for a total value of $487,362.00. Following the completion of the transaction, the director now owns 1,618 shares of the company’s stock, valued at $183,384.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Company Profile (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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

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