Principal Financial Group Inc. Sells 27,104 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Principal Financial Group Inc. decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,691 shares of the insurance provider’s stock after selling 27,104 shares during the period. Principal Financial Group Inc.’s holdings in Reinsurance Group of America were worth $30,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Moors & Cabot Inc. bought a new position in Reinsurance Group of America during the 3rd quarter valued at about $27,000. Berman Capital Advisors LLC increased its position in shares of Reinsurance Group of America by 104.4% during the 3rd quarter. Berman Capital Advisors LLC now owns 325 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 166 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at about $50,000. First Horizon Advisors Inc. increased its position in shares of Reinsurance Group of America by 367.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 421 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 331 shares during the last quarter. Finally, Parisi Gray Wealth Management purchased a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at about $69,000. Institutional investors own 93.58% of the company’s stock.

Several research firms have recently commented on RGA. Zacks Investment Research raised shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $117.00 price target for the company in a research report on Thursday, January 6th. TheStreet lowered shares of Reinsurance Group of America from a “b-” rating to a “c+” rating in a report on Friday, December 10th. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $128.00 to $125.00 and set an “underweight” rating for the company in a report on Thursday, November 18th. Royal Bank of Canada reduced their target price on shares of Reinsurance Group of America from $129.00 to $123.00 and set a “sector perform” rating for the company in a report on Monday, November 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Reinsurance Group of America from $141.00 to $131.00 in a report on Tuesday, January 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.22.

Shares of RGA opened at $118.88 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $8.04 billion, a P/E ratio of 13.71 and a beta of 1.26. Reinsurance Group of America, Incorporated has a 1 year low of $94.32 and a 1 year high of $134.93. The company has a 50 day simple moving average of $107.49 and a two-hundred day simple moving average of $112.66.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, November 4th. The insurance provider reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($3.57). Reinsurance Group of America had a return on equity of 1.49% and a net margin of 3.61%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 2.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, November 15th. This represents a $2.92 annualized dividend and a dividend yield of 2.46%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.68%.

In other news, CEO Alka Gautam sold 858 shares of Reinsurance Group of America stock in a transaction on Tuesday, December 28th. The stock was sold at an average price of $110.05, for a total transaction of $94,422.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.

About Reinsurance Group of America

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America; Canada; Europe, Middle East, and Africa; Asia Pacific; and Corporate and Other.

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

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