Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,130 shares of the insurance provider’s stock after selling 253 shares during the period. Perigon Wealth Management LLC’s holdings in Reinsurance Group of America were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Reinsurance Group of America by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after acquiring an additional 51,733 shares during the last quarter. FMR LLC boosted its stake in Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after purchasing an additional 564,693 shares during the period. Alliancebernstein L.P. grew its position in Reinsurance Group of America by 389.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after purchasing an additional 893,537 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Reinsurance Group of America by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after purchasing an additional 4,106 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Reinsurance Group of America by 34.4% in the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider’s stock valued at $201,802,000 after purchasing an additional 241,669 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RGA. Evercore ISI decreased their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. UBS Group reissued a “neutral” rating and issued a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price target on Reinsurance Group of America from $246.00 to $248.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.85.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $199.34 on Wednesday. The company has a 50-day moving average of $199.52 and a 200-day moving average of $201.71. The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 16.82 and a beta of 0.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. The firm had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period last year, the firm posted $6.02 earnings per share. Analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is presently 30.04%.

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.