Principal Financial Group Inc. Purchases 4,913 Shares of Reinsurance Group of America, Incorporated $RGA

Principal Financial Group Inc. lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 149,514 shares of the insurance provider’s stock after acquiring an additional 4,913 shares during the quarter. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $30,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Reinsurance Group of America by 44.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth raised its position in Reinsurance Group of America by 121.2% during the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after purchasing an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Reinsurance Group of America by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the period. Gabelli Funds LLC purchased a new position in Reinsurance Group of America during the 2nd quarter valued at $1,006,000. Finally, Cerity Partners LLC increased its position in shares of Reinsurance Group of America by 15.5% during the second quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after buying an additional 4,527 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Evercore reissued an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $241.60 on Monday. The firm has a market capitalization of $15.83 billion, a PE ratio of 13.09 and a beta of 0.47. The stock’s fifty day moving average is $213.97 and its 200 day moving average is $209.68. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $244.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the business posted $5.66 earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.5%. Reinsurance Group of America’s payout ratio is currently 20.15%.

Insider Activity

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.