Candriam S.C.A. Has $2.94 Million Position in Reinsurance Group of America, Incorporated $RGA

Candriam S.C.A. lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 68.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 14,909 shares of the insurance provider’s stock after selling 33,056 shares during the quarter. Candriam S.C.A.’s holdings in Reinsurance Group of America were worth $2,936,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Reinsurance Group of America by 38.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock worth $1,729,000 after buying an additional 2,428 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Reinsurance Group of America by 13.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider’s stock worth $768,000 after buying an additional 452 shares in the last quarter. Golden State Wealth Management LLC grew its position in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Reinsurance Group of America by 1,265.2% during the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider’s stock worth $1,290,000 after purchasing an additional 6,073 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Reinsurance Group of America by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider’s stock worth $33,984,000 after purchasing an additional 12,217 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

RGA has been the subject of several recent analyst reports. Raymond James Financial restated a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Wells Fargo & Company cut their target price on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $242.27.

Reinsurance Group of America Stock Up 1.1%

Shares of RGA opened at $193.4870 on Friday. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 16.80 and a beta of 0.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average of $192.80 and a 200-day moving average of $194.68.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS 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 during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the company posted $5.48 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, August 12th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.29%.

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.