State Street Corp Grows Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

State Street Corp lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,231,013 shares of the insurance provider's stock after acquiring an additional 4,038 shares during the quarter. State Street Corp owned approximately 3.39% of Reinsurance Group of America worth $486,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Earnest Partners LLC boosted its position in shares of Reinsurance Group of America by 1.9% in the second 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 holdings in 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 worth $527,742,000 after buying an additional 2,260,605 shares during the period. Sei Investments Co. increased its stake in Reinsurance Group of America by 5.9% in the 2nd 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 in the last quarter. Zurich Insurance Group Ltd FI increased its stake in 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 buying an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Reinsurance Group of America by 43.8% during 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. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley cut 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 research report on Monday, August 19th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. TD Cowen began 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 on the stock. JPMorgan Chase & Co. upped their target price 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, Royal Bank of Canada lifted their price target 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. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $227.77.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the company's 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 transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company's stock.

Reinsurance Group of America Trading Down 2.4 %

Shares of NYSE:RGA traded down $5.21 during trading on Monday, reaching $215.09. The company's stock had a trading volume of 490,277 shares, compared to its average volume of 354,987. The stock has a market capitalization of $14.17 billion, a PE ratio of 20.23 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm's 50 day simple moving average is $220.76 and its two-hundred day simple moving average is $214.21.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its 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. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the previous year, the business earned $5.57 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America's dividend payout ratio (DPR) is 32.69%.

Reinsurance Group of America 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.