Quantbot Technologies LP trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 48.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,993 shares of the insurance provider's stock after selling 2,868 shares during the period. Quantbot Technologies LP's holdings in Reinsurance Group of America were worth $652,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of RGA. Earnest Partners LLC increased 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 increased its stake in shares of Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock worth $527,742,000 after buying an additional 2,260,605 shares during the period. Sei Investments Co. raised its holdings in Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider's stock valued at $169,497,000 after buying an additional 45,709 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its position in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock valued at $104,244,000 after buying an additional 442,883 shares during the period. Finally, Millennium Management LLC grew its holdings 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 worth $89,758,000 after acquiring an additional 133,212 shares during the last quarter. 95.11% of the stock is owned by institutional investors.
Reinsurance Group of America Stock Performance
Shares of RGA stock traded down $1.39 during mid-day trading on Tuesday, reaching $226.02. 183,647 shares of the company's stock traded hands, compared to its average volume of 354,438. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.81. The firm has a 50 day moving average price of $220.39 and a two-hundred day moving average price of $213.88. The firm has a market capitalization of $14.89 billion, a PE ratio of 20.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the previous year, the company earned $5.57 EPS. Reinsurance Group of America's revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.
Reinsurance Group of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.69%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Keefe, Bruyette & Woods raised Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. Morgan Stanley decreased their target price on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. StockNews.com raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Barclays lifted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised 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. Three equities research 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 stock. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of "Moderate Buy" and a consensus price target of $227.77.
View Our Latest Stock Analysis on RGA
Insider Transactions at Reinsurance Group of America
In related news, EVP William L. Hutton sold 1,209 shares of the company'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 sale, the executive vice president now owns 12,357 shares of the company's stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.37% of the company's stock.
Reinsurance Group of America Company Profile
(
Free Report)
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.
Read More
Before you consider Reinsurance Group of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reinsurance Group of America wasn't on the list.
While Reinsurance Group of America currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.