Massachusetts Financial Services Co. MA Reduces Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,342 shares of the insurance provider's stock after selling 22,576 shares during the period. Massachusetts Financial Services Co. MA owned 0.21% of Reinsurance Group of America worth $30,794,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Earnest Partners LLC boosted its stake in Reinsurance Group of America by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider's stock worth $539,476,000 after purchasing an additional 50,228 shares during the period. WCM Investment Management LLC boosted its stake in shares of Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock valued at $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider's stock worth $169,497,000 after buying an additional 45,709 shares during the period. Zurich Insurance Group Ltd FI lifted its position in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of 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 acquiring an additional 133,212 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective 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. TD Cowen initiated 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 target for the company. JPMorgan Chase & Co. boosted their price target on 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. Morgan Stanley lowered their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Finally, Wells Fargo & Company increased their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.77.

Reinsurance Group of America Stock Performance

RGA traded up $0.15 during trading on Tuesday, hitting $231.58. The company's stock had a trading volume of 353,154 shares, compared to its average volume of 355,847. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.81. The business's 50 day simple moving average is $219.64 and its 200-day simple moving average is $213.30. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $15.25 billion, a PE ratio of 21.27 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping analysts' consensus estimates of $5.31 by $0.82. The business 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%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.57 earnings per share. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 12,357 shares of the company's stock, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

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.