Intech Investment Management LLC Sells 7,808 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Intech Investment Management LLC reduced its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 35.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,469 shares of the insurance provider's stock after selling 7,808 shares during the period. Intech Investment Management LLC's holdings in Reinsurance Group of America were worth $3,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGA. Price T Rowe Associates Inc. MD increased its stake in shares of Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider's stock worth $27,617,000 after purchasing an additional 26,306 shares during the last quarter. M&G Plc boosted its holdings in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider's stock worth $17,456,000 after buying an additional 4,025 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth about $1,925,000. Insight Wealth Strategies LLC bought a new stake in shares of Reinsurance Group of America during the 3rd quarter worth about $3,548,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Reinsurance Group of America by 23.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider's stock worth $6,527,000 after buying an additional 6,144 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RGA. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an "outperform" rating in a report on Monday, November 4th. StockNews.com upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Finally, TD Cowen started coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $227.77.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock traded up $1.53 during mid-day trading on Friday, hitting $230.70. 427,662 shares of the company traded hands, compared to its average volume of 363,319. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.14. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a fifty day moving average price of $219.09 and a 200-day moving average price of $212.96.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.57 earnings per share. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America's payout ratio is 32.69%.

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.