Ballentine Partners LLC Buys 939 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Ballentine Partners LLC raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 84.8% in the 1st quarter, HoldingsChannel reports. The firm owned 2,046 shares of the insurance provider’s stock after purchasing an additional 939 shares during the period. Ballentine Partners LLC’s holdings in Reinsurance Group of America were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Reinsurance Group of America by 38.2% in the 1st 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 during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of 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 acquiring an additional 452 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Reinsurance Group of America by 1,265.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider’s stock valued at $1,290,000 after purchasing an additional 6,073 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Reinsurance Group of America by 7.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider’s stock valued at $33,984,000 after purchasing an additional 12,217 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 2.3%

RGA opened at $192.46 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.50. 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 cap of $12.72 billion, a PE ratio of 16.24 and a beta of 0.62. The business has a 50 day moving average of $200.34 and a 200-day moving average of $200.80.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating 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 analysts’ expectations of $5.74 billion. During the same quarter in the previous year, the business posted $6.02 EPS. The company’s quarterly revenue was down 17.0% on a year-over-year basis. Equities research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is 30.04%.

Wall Street Analysts Forecast Growth

RGA has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. UBS Group restated a “neutral” rating and set a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $249.00 price target (up from $248.00) on shares of Reinsurance Group of America in a research note on Thursday, July 10th. Raymond James Financial reissued a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, Morgan Stanley raised their target price on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.00.

Reinsurance Group of America Profile

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.