SG Americas Securities LLC Reduces Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

SG Americas Securities LLC reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 93.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,023 shares of the insurance provider's stock after selling 14,387 shares during the period. SG Americas Securities LLC's holdings in Reinsurance Group of America were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Zurich Insurance Group Ltd FI lifted its position in shares of Reinsurance Group of America by 681.8% in the 2nd 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 during the period. Millennium Management LLC lifted its position in Reinsurance Group of America by 43.8% in the 2nd 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 in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Reinsurance Group of America in the first quarter valued at approximately $24,918,000. Earnest Partners LLC boosted its holdings in Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider's stock worth $497,226,000 after acquiring an additional 104,256 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Reinsurance Group of America by 57.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider's stock worth $44,897,000 after purchasing an additional 84,647 shares during the last quarter. Institutional investors own 95.11% of the company's stock.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the 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 of the company's stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, October 3rd. Morgan Stanley reduced their price objective on shares of 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. Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an "overweight" rating for the company in a research note on Tuesday, October 8th. Wells Fargo & Company increased their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.62.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $213.32 on Wednesday. The business has a 50 day moving average of $215.02 and a 200 day moving average of $207.91. Reinsurance Group of America, Incorporated has a 52 week low of $144.74 and a 52 week high of $227.87. The company has a market cap of $14.03 billion, a PE ratio of 16.57 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm posted $4.40 EPS. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America's payout ratio is currently 27.66%.

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.