California State Teachers Retirement System Purchases 16,119,041 Shares of Reinsurance Group of America, Incorporated $RGA

California State Teachers Retirement System grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 21,340.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,194,573 shares of the insurance provider’s stock after acquiring an additional 16,119,041 shares during the quarter. California State Teachers Retirement System owned about 0.25% of Reinsurance Group of America worth $3,443,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. NBH Bank purchased a new position in shares of Reinsurance Group of America in the 2nd quarter worth approximately $123,000. AlphaGrep UK Ltd purchased a new position in Reinsurance Group of America during the 2nd quarter valued at $414,000. Syon Capital LLC grew its holdings in shares of Reinsurance Group of America by 30.8% in the second quarter. Syon Capital LLC now owns 1,525 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 359 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Reinsurance Group of America in the 2nd quarter worth about $261,000. Finally, AXQ Capital LP purchased a new position in Reinsurance Group of America during the 2nd quarter worth $1,557,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $247.30 on Friday. Reinsurance Group of America, Incorporated has a one year low of $178.21 and a one year high of $257.81. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a fifty day moving average of $241.08 and a 200 day moving average of $219.97. The firm has a market cap of $16.15 billion, a PE ratio of 10.86 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company posted $4.72 EPS. Reinsurance Group of America’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 29.22 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $0.98 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is 17.22%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Barclays upped their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $262.56.

Insider Activity

In other news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by company insiders.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.