Wealth Alliance Cuts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Wealth Alliance lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 1,389 shares of the insurance provider’s stock after selling 97 shares during the period. Wealth Alliance’s holdings in Reinsurance Group of America were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. GHP Investment Advisors Inc. lifted its position in Reinsurance Group of America by 0.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd boosted its stake in shares of Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 63 shares during the period. Fiduciary Family Office LLC grew its holdings in Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after purchasing an additional 76 shares in the last quarter. GAMMA Investing LLC increased its stake in Reinsurance Group of America by 16.5% during the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after buying an additional 79 shares during the period. Finally, Hilltop National Bank lifted its holdings in Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays began coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Jefferies Financial Group raised 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 report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.33.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $218.74 on Friday. 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 firm has a 50-day simple moving average of $212.82 and a 200 day simple moving average of $202.93. Reinsurance Group of America, Incorporated has a fifty-two week low of $140.39 and a fifty-two week high of $227.87. The company has a market cap of $14.41 billion, a PE ratio of 17.00 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. 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 prior year, the firm earned $4.40 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.63%. Reinsurance Group of America’s payout ratio is 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.