State of Michigan Retirement System Increases Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

State of Michigan Retirement System increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,152 shares of the insurance provider’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Reinsurance Group of America were worth $3,115,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Reinsurance Group of America during the fourth quarter worth $2,993,000. International Assets Investment Management LLC boosted its stake in Reinsurance Group of America by 16,078.1% in the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock valued at $3,586,000 after acquiring an additional 22,027 shares during the last quarter. Raymond James & Associates grew its position in shares of Reinsurance Group of America by 13.0% during the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock valued at $39,599,000 after acquiring an additional 28,193 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock worth $3,289,000 after purchasing an additional 10,968 shares during the period. Finally, Junto Capital Management LP purchased a new position in Reinsurance Group of America in the fourth quarter valued at approximately $92,083,000. 95.11% of the stock is owned by institutional investors.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares in the company, valued at $3,410,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RGA shares. UBS Group boosted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group upped their price objective on shares of Reinsurance Group of America from $240.00 to $247.00 and gave the company a “buy” rating in a report on Friday, June 28th. Evercore ISI lifted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Raymond James upped their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $195.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.18.

Reinsurance Group of America Price Performance

RGA opened at $205.82 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. Reinsurance Group of America, Incorporated has a 1 year low of $135.07 and a 1 year high of $213.21. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 15.99 and a beta of 0.92. The stock’s 50 day simple moving average is $204.22 and its 200 day simple moving average is $185.67.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The firm had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business earned $5.16 earnings per share. As a group, analysts predict that Reinsurance Group of America, Incorporated will post 20.94 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is 26.42%.

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.