Institute for Wealth Management LLC. Sells 102 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Institute for Wealth Management LLC. decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,380 shares of the insurance provider’s stock after selling 102 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Reinsurance Group of America were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Earnest Partners LLC increased its stake in shares of Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after buying an additional 104,256 shares during the period. Nuance Investments LLC increased its stake in shares of Reinsurance Group of America by 14.7% in the 4th quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock valued at $180,233,000 after buying an additional 142,627 shares during the period. Sei Investments Co. increased its stake in shares of Reinsurance Group of America by 5.7% in the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after buying an additional 42,135 shares during the period. Norges Bank acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $122,301,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Reinsurance Group of America by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after buying an additional 15,926 shares during the period. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RGA. Raymond James lifted their target price on 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. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Jefferies Financial Group lifted their price objective on shares of 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. Finally, Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.45.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $211.77 on Monday. The firm’s 50 day moving average price is $209.35 and its two-hundred day moving average price is $197.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a twelve month low of $135.57 and a twelve month high of $227.87. The firm has a market cap of $13.93 billion, a P/E ratio of 16.45 and a beta of 0.92.

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

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 27.66%.

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.