Principal Financial Group Inc. Has $39.69 Million Position in Reinsurance Group of America Inc (NYSE:RGA)

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Principal Financial Group Inc. increased its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 279,531 shares of the insurance provider’s stock after purchasing an additional 1,751 shares during the quarter. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $39,688,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. GAM Holding AG raised its holdings in shares of Reinsurance Group of America by 4.6% during the first quarter. GAM Holding AG now owns 4,789 shares of the insurance provider’s stock valued at $680,000 after purchasing an additional 209 shares during the period. MML Investors Services LLC raised its holdings in shares of Reinsurance Group of America by 18.9% during the first quarter. MML Investors Services LLC now owns 2,764 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 440 shares during the period. Sawtooth Solutions LLC acquired a new stake in shares of Reinsurance Group of America in the 1st quarter worth about $701,000. Azimuth Capital Management LLC raised its holdings in shares of Reinsurance Group of America by 4.9% in the 1st quarter. Azimuth Capital Management LLC now owns 51,300 shares of the insurance provider’s stock worth $7,284,000 after acquiring an additional 2,410 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its holdings in shares of Reinsurance Group of America by 4.2% in the 1st quarter. Stanley Laman Group Ltd. now owns 7,051 shares of the insurance provider’s stock worth $1,001,000 after acquiring an additional 282 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

In other Reinsurance Group of America news, EVP Alain Neemeh sold 3,668 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $148.00, for a total value of $542,864.00. Following the completion of the sale, the executive vice president now owns 37,492 shares in the company, valued at approximately $5,548,816. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.78% of the company’s stock.

Several research firms have commented on RGA. ValuEngine upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. UBS Group increased their price objective on shares of Reinsurance Group of America from $142.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Reinsurance Group of America presently has a consensus rating of “Hold” and an average price target of $142.17.

NYSE:RGA traded down $0.93 on Wednesday, hitting $149.99. The stock had a trading volume of 1,762 shares, compared to its average volume of 308,529. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 12.40 and a beta of 0.66. Reinsurance Group of America Inc has a 1 year low of $127.84 and a 1 year high of $153.61.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Reinsurance Group of America had a net margin of 5.98% and a return on equity of 9.64%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. As a group, sell-side analysts forecast that Reinsurance Group of America Inc will post 13.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 9th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.40 annualized dividend and a yield of 1.60%. Reinsurance Group of America’s dividend payout ratio (DPR) is 19.80%.

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Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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