PNC Financial Services Group Inc. Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

PNC Financial Services Group Inc. reduced its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,647 shares of the insurance provider's stock after selling 1,599 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Reinsurance Group of America were worth $3,343,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its stake in Reinsurance Group of America by 30.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,233 shares of the insurance provider's stock worth $1,140,000 after purchasing an additional 1,216 shares in the last quarter. MQS Management LLC purchased a new position in Reinsurance Group of America during the third quarter worth approximately $496,000. Oppenheimer & Co. Inc. purchased a new position in Reinsurance Group of America during the third quarter worth approximately $242,000. KBC Group NV boosted its stake in Reinsurance Group of America by 14.7% during the third quarter. KBC Group NV now owns 1,705 shares of the insurance provider's stock worth $371,000 after buying an additional 219 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Reinsurance Group of America by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 2,348 shares of the insurance provider's stock valued at $512,000 after buying an additional 123 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Up 0.7 %

Shares of NYSE:RGA traded up $1.32 during trading on Monday, hitting $192.82. 371,592 shares of the company were exchanged, compared to its average volume of 378,036. The firm's 50 day moving average price is $209.88 and its 200-day moving average price is $214.95. Reinsurance Group of America, Incorporated has a 12-month low of $77.21 and a 12-month high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The stock has a market capitalization of $12.73 billion, a P/E ratio of 17.95 and a beta of 0.91.

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Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts' consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 33.15%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGA. Barclays lowered their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.85.

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.