Golden State Wealth Management LLC Boosts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Golden State Wealth Management LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 164.3% in the 1st quarter, HoldingsChannel reports. The firm owned 148 shares of the insurance provider’s stock after purchasing an additional 92 shares during the period. Golden State Wealth Management LLC’s holdings in Reinsurance Group of America were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. raised its holdings in Reinsurance Group of America by 324.7% during the first quarter. Lecap Asset Management Ltd. now owns 11,998 shares of the insurance provider’s stock worth $2,362,000 after purchasing an additional 9,173 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings 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 in the last quarter. GHP Investment Advisors Inc. raised its holdings in Reinsurance Group of America by 6.8% during the first quarter. GHP Investment Advisors Inc. now owns 10,322 shares of the insurance provider’s stock worth $2,032,000 after purchasing an additional 659 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Reinsurance Group of America by 1.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 31,618 shares of the insurance provider’s stock worth $6,226,000 after purchasing an additional 404 shares in the last quarter. Finally, Consolidated Planning Corp raised its holdings in Reinsurance Group of America by 67.6% during the first quarter. Consolidated Planning Corp now owns 6,475 shares of the insurance provider’s stock worth $1,275,000 after purchasing an additional 2,612 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RGA shares. Evercore ISI cut their price target on shares of 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. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. 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 report on Wednesday, May 7th. Morgan Stanley set a $209.00 target price on shares of Reinsurance Group of America and gave the company an “equal weight” rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and increased their target price for the company from $232.00 to $237.00 in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $228.85.

Reinsurance Group of America Stock Up 0.9%

RGA stock opened at $197.79 on Friday. The company’s 50 day simple moving average is $199.79 and its 200-day simple moving average is $201.58. The firm has a market capitalization of $13.07 billion, a PE ratio of 16.69 and a beta of 0.62. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16.

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

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.80%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 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.