Ensign Peak Advisors Inc Has $102.90 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Ensign Peak Advisors Inc trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 501,291 shares of the insurance provider’s stock after selling 82,766 shares during the period. Ensign Peak Advisors Inc owned about 0.76% of Reinsurance Group of America worth $102,900,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RGA. GHP Investment Advisors Inc. lifted its position in Reinsurance Group of America by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd lifted its position in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 63 shares during the last quarter. Fiduciary Family Office LLC lifted its position in Reinsurance Group of America by 3.1% during the second quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock worth $523,000 after acquiring an additional 76 shares during the last quarter. GAMMA Investing LLC lifted its position in Reinsurance Group of America by 16.5% during the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 79 shares during the last quarter. Finally, Hilltop National Bank lifted its position in Reinsurance Group of America by 13.1% during the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 82 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $219.62 on Friday. The firm has a market cap of $14.45 billion, a PE ratio of 17.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a 52 week low of $140.39 and a 52 week high of $227.87. The firm’s fifty day moving average is $212.96 and its 200-day moving average is $203.22.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.40 earnings per share. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share 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. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.62%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group lifted their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.33.

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.