Fifth Third Bancorp Lowers Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Fifth Third Bancorp lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,407 shares of the insurance provider’s stock after selling 6,862 shares during the period. Fifth Third Bancorp’s holdings in Reinsurance Group of America were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Eagle Asset Management Inc. increased its holdings in Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter worth about $1,925,000. Insight Wealth Strategies LLC bought a new position in Reinsurance Group of America during the third quarter valued at approximately $3,548,000. Nordea Investment Management AB grew its holdings in Reinsurance Group of America by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after buying an additional 4,119 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Reinsurance Group of America by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock worth $16,862,000 after acquiring an additional 5,699 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen started coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Trading Up 0.3 %

RGA stock opened at $224.85 on Monday. Reinsurance Group of America, Incorporated has a 12 month low of $163.81 and a 12 month high of $233.81. The firm’s 50-day moving average is $219.26 and its 200 day moving average is $216.52. The company has a market capitalization of $14.81 billion, a PE ratio of 20.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the firm posted $5.57 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.4 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

About Reinsurance Group of America

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.