Martingale Asset Management L P Lowers Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Martingale Asset Management L P lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 115,030 shares of the insurance provider's stock after selling 12,602 shares during the quarter. Martingale Asset Management L P owned 0.17% of Reinsurance Group of America worth $25,062,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. WCM Investment Management LLC grew its holdings in Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock worth $527,742,000 after acquiring an additional 2,260,605 shares in the last quarter. Zurich Insurance Group Ltd FI grew its stake in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock worth $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Millennium Management LLC increased its holdings in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock valued at $89,758,000 after buying an additional 133,212 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Reinsurance Group of America in the third quarter valued at $11,803,000. Finally, Earnest Partners LLC lifted its holdings in Reinsurance Group of America by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider's stock worth $539,476,000 after buying an additional 50,228 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. StockNews.com upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Raymond James lifted their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada upped their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus price target of $227.77.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA traded down $1.06 on Friday, reaching $228.40. 227,007 shares of the company were exchanged, compared to its average volume of 354,945. The company has a 50-day moving average of $220.07 and a 200-day moving average of $213.53. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of 21.07 and a beta of 0.92. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.57 earnings per share. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.69%.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company's stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.37% of the company's stock.

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.