Principal Financial Group Inc. increased its stake in shares of Reinsurance Group of America Inc. (NYSE:RGA) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 352,794 shares of the company’s stock after buying an additional 24,117 shares during the period. Principal Financial Group Inc. owned 0.55% of Reinsurance Group of America worth $34,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning raised its stake 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 valued at $110,000 after buying an additional 51 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Reinsurance Group of America by 50.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the company’s stock valued at $116,000 after buying an additional 400 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Reinsurance Group of America during the second quarter valued at approximately $150,000. CIBC World Markets Inc. acquired a new stake in shares of Reinsurance Group of America during the second quarter valued at approximately $228,000. Finally, Wedbush Securities Inc. raised its stake 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 valued at $229,000 after buying an additional 15 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Reinsurance Group of America Inc. (NYSE:RGA) traded up 0.45% during trading on Wednesday, reaching $107.94. The company’s stock had a trading volume of 31,522 shares. The company has a market capitalization of $6.92 billion, a PE ratio of 12.70 and a beta of 1.07. Reinsurance Group of America Inc. has a 52 week low of $76.96 and a 52 week high of $110.89. The company has a 50 day moving average price of $104.35 and a 200-day moving average price of $97.95.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 9th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, August 5th. Reinsurance Group of America’s dividend payout ratio is 19.25%.

RGA has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Reinsurance Group of America in a report on Wednesday, July 6th. 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 note on Wednesday, August 31st. Deutsche Bank AG lifted their price target on Reinsurance Group of America from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. raised Reinsurance Group of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $96.00 to $108.00 in a research note on Friday, July 15th. Finally, Evercore ISI began coverage on Reinsurance Group of America in a research note on Wednesday, July 6th. They issued a “hold” rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Reinsurance Group of America has a consensus rating of “Hold” and a consensus price target of $101.56.

In other news, CEO A Greig Woodring sold 31,058 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $100.62, for a total transaction of $3,125,055.96. Following the completion of the transaction, the chief executive officer now directly owns 208,353 shares of the company’s stock, valued at approximately $20,964,478.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Todd C. Larson sold 2,355 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $100.73, for a total value of $237,219.15. Following the transaction, the chief financial officer now directly owns 24,955 shares of the company’s stock, valued at $2,513,717.15. The disclosure for this sale can be found here. 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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