Envestnet Asset Management Inc. Buys 9,133 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Envestnet Asset Management Inc. increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,793 shares of the insurance provider’s stock after acquiring an additional 9,133 shares during the period. Envestnet Asset Management Inc. owned about 0.56% of Reinsurance Group of America worth $75,908,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America in the 1st quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $29,000. Finally, Family Firm Inc. bought a new position in shares of Reinsurance Group of America during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James boosted their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. UBS Group upped their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup raised their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays began coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $223.33.

Reinsurance Group of America Price Performance

NYSE RGA opened at $216.75 on Wednesday. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87. The stock has a 50-day moving average of $212.53 and a 200 day moving average of $202.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 16.84 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.40 earnings per share. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is presently 27.66%.

Reinsurance Group of America Company Profile

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.