JPMorgan Chase & Co. increased its position in shares of Reinsurance Group of America Inc. (NYSE:RGA) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,304 shares of the company’s stock after buying an additional 3,370 shares during the period. JPMorgan Chase & Co. owned about 0.50% of Reinsurance Group of America worth $30,967,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RGA. Creative Planning increased its position in shares of Reinsurance Group of America by 4.7% in the second quarter. Creative Planning now owns 1,136 shares of the company’s stock worth $110,000 after buying an additional 51 shares during the period. Huntington National Bank acquired a new position in shares of Reinsurance Group of America during the second quarter worth $150,000. CIBC World Markets Inc. acquired a new position in shares of Reinsurance Group of America during the second quarter worth $228,000. Wedbush Securities Inc. increased its position in shares of Reinsurance Group of America by 0.6% in the second quarter. Wedbush Securities Inc. now owns 2,358 shares of the company’s stock worth $229,000 after buying an additional 15 shares during the period. Finally, Gerstein Fisher increased its position in shares of Reinsurance Group of America by 25.1% in the second quarter. Gerstein Fisher now owns 2,769 shares of the company’s stock worth $269,000 after buying an additional 555 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Reinsurance Group of America Inc. (NYSE:RGA) traded up 1.08% during midday trading on Tuesday, hitting $107.65. The company had a trading volume of 147,492 shares. Reinsurance Group of America Inc. has a 12-month low of $76.96 and a 12-month high of $110.89. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 12.67 and a beta of 1.07. The company’s 50-day moving average price is $104.08 and its 200 day moving average price is $97.84.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, July 28th. The company reported $2.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.51. Reinsurance Group of America had a net margin of 5.17% and a return on equity of 9.26%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Reinsurance Group of America Inc. will post $9.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.41 per share. The ex-dividend date was Friday, August 5th. This represents a $1.64 annualized dividend and a dividend yield of 1.54%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.37. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 19.25%.

A number of brokerages have weighed in on RGA. Zacks Investment Research raised Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Wednesday, August 31st. Deutsche Bank AG boosted their price target on Reinsurance Group of America from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Goldman Sachs Group Inc. raised Reinsurance Group of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $108.00 in a research report on Friday, July 15th. Citigroup Inc. boosted their price target on Reinsurance Group of America from $97.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Finally, Evercore ISI started coverage on Reinsurance Group of America in a research report on Wednesday, July 6th. They issued a “hold” rating and a $92.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $101.56.

In other Reinsurance Group of America news, SVP John W. Hayden sold 1,988 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $105.42, for a total transaction of $209,574.96. Following the transaction, the senior vice president now owns 8,074 shares of the company’s stock, valued at approximately $851,161.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Todd C. Larson sold 2,355 shares of Reinsurance Group of America stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $100.73, for a total transaction of $237,219.15. Following the transaction, the chief financial officer now directly owns 24,955 shares in the company, valued at approximately $2,513,717.15. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional and non-traditional life and health reinsurance. The Company has geographic-based or function-based segments, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other.

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