Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.9% in the 1st quarter, Holdings Channel reports. The fund owned 43,467 shares of the insurance provider’s stock after selling 3,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reinsurance Group of America were worth $8,559,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Applied Finance Capital Management LLC bought a new position in Reinsurance Group of America during the first quarter worth $324,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Reinsurance Group of America by 5,744.8% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 36,121 shares of the insurance provider’s stock valued at $7,112,000 after purchasing an additional 35,503 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Reinsurance Group of America by 13.8% during the first quarter. Cetera Investment Advisers now owns 28,216 shares of the insurance provider’s stock valued at $5,556,000 after purchasing an additional 3,421 shares in the last quarter. Journey Strategic Wealth LLC grew its holdings in Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock worth $237,000 after acquiring an additional 56 shares during the period. Finally, Carnegie Investment Counsel acquired a new position in Reinsurance Group of America during the first quarter worth about $257,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 1.7%

NYSE:RGA opened at $190.42 on Thursday. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The business’s 50-day moving average price is $197.90 and its two-hundred day moving average price is $199.18. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 16.07 and a beta of 0.62.

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

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a dividend of $0.89 per share. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.87%. Reinsurance Group of America’s payout ratio is presently 30.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGA. Raymond James Financial reissued a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Morgan Stanley boosted their target price on Reinsurance Group of America from $209.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Wells Fargo & Company restated an “overweight” rating and set a $249.00 price objective (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on 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 eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.36.

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.