Commonwealth Bank of Australia lifted its stake in Reinsurance Group of America Inc (NYSE:RGA) by 29.4% during the first quarter, HoldingsChannel reports. The fund owned 19,669 shares of the insurance provider’s stock after acquiring an additional 4,470 shares during the quarter. Commonwealth Bank of Australia’s holdings in Reinsurance Group of America were worth $2,785,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in Reinsurance Group of America by 13,803.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,536,741 shares of the insurance provider’s stock worth $25,000 after buying an additional 3,511,304 shares during the period. Icon Wealth Partners LLC bought a new position in Reinsurance Group of America in the 1st quarter worth approximately $29,000. Riverview Trust Co bought a new position in Reinsurance Group of America in the 4th quarter worth approximately $32,000. FTB Advisors Inc. increased its position in Reinsurance Group of America by 43.4% in the 4th quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock worth $44,000 after buying an additional 99 shares during the period. Finally, JOYN Advisors Inc. increased its position in Reinsurance Group of America by 68.9% in the 4th quarter. JOYN Advisors Inc. now owns 434 shares of the insurance provider’s stock worth $61,000 after buying an additional 177 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on RGA. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. UBS Group lifted their price target on Reinsurance Group of America from $142.00 to $148.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $145.43.

RGA opened at $148.06 on Monday. The company has a market cap of $9.28 billion, a PE ratio of 12.22 and a beta of 0.68. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. Reinsurance Group of America Inc has a 1 year low of $127.84 and a 1 year high of $154.10.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.34 billion. Reinsurance Group of America had a net margin of 5.98% and a return on equity of 9.64%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, research analysts predict that Reinsurance Group of America Inc will post 13.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 9th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, May 8th. Reinsurance Group of America’s dividend payout ratio is presently 19.80%.

In other news, EVP Alain Neemeh sold 3,668 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $148.00, for a total transaction of $542,864.00. Following the sale, the executive vice president now directly owns 37,492 shares in the company, valued at $5,548,816. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.

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Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

Further Reading: Buyback For Investors Defined

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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