BNP Paribas Financial Markets Trims Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

BNP Paribas Financial Markets trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,914 shares of the insurance provider's stock after selling 22,070 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Reinsurance Group of America worth $12,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Asset Management Inc. lifted its holdings in Reinsurance Group of America by 15.7% in the third 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 period. M&G Plc lifted its stake in shares of Reinsurance Group of America by 5.0% in the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider's stock worth $17,456,000 after purchasing an additional 4,025 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Reinsurance Group of America in the second quarter worth approximately $1,925,000. Insight Wealth Strategies LLC bought a new stake in Reinsurance Group of America during the third quarter valued at approximately $3,548,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Reinsurance Group of America by 23.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider's stock valued at $6,527,000 after buying an additional 6,144 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

RGA traded down $0.99 during trading on Monday, hitting $227.41. 418,852 shares of the company traded hands, compared to its average volume of 355,220. The company has a market cap of $14.98 billion, a PE ratio of 20.86 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock's 50-day simple moving average is $220.25 and its two-hundred day simple moving average is $213.76.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period in the previous year, the firm posted $5.57 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.57%. Reinsurance Group of America's dividend payout ratio is currently 32.69%.

Insider Activity at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGA. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. TD Cowen began coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price target for the company. Royal Bank of Canada upped their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $220.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday, October 3rd. Finally, StockNews.com raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $227.77.

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.