American Century Companies Inc. Trims Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

American Century Companies Inc. reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 33.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,415,011 shares of the insurance provider’s stock after selling 697,998 shares during the quarter. American Century Companies Inc. owned 2.15% of Reinsurance Group of America worth $290,460,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Earnest Partners LLC raised its position in Reinsurance Group of America by 4.2% during the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after acquiring an additional 104,256 shares in the last quarter. Sei Investments Co. grew its holdings in Reinsurance Group of America by 5.7% in the first quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after purchasing an additional 42,135 shares during the period. Norges Bank acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $122,301,000. Jacobs Levy Equity Management Inc. grew its holdings in Reinsurance Group of America by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after purchasing an additional 15,926 shares during the period. Finally, Junto Capital Management LP acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $92,083,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $210.73 on Thursday. Reinsurance Group of America, Incorporated has a 52 week low of $140.39 and a 52 week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $13.88 billion, a P/E ratio of 16.37 and a beta of 0.91. The stock’s fifty day moving average is $211.74 and its two-hundred day moving average is $201.41.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.40 EPS. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is currently 27.66%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of research analyst reports. UBS Group lifted their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Company 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.