Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,820 shares of the insurance provider's stock after selling 21,087 shares during the quarter. The Manufacturers Life Insurance Company owned 0.19% of Reinsurance Group of America worth $27,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Reinsurance Group of America by 8.9% during the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider's stock worth $133,000 after purchasing an additional 50 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Reinsurance Group of America by 1.2% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider's stock worth $952,000 after buying an additional 53 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider's stock worth $1,942,000 after buying an additional 62 shares in the last quarter. Baron Wealth Management LLC grew its stake in Reinsurance Group of America by 4.5% in the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider's stock valued at $324,000 after acquiring an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Reinsurance Group of America by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider's stock valued at $514,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Trading Down 0.5 %

RGA stock traded down $1.06 on Friday, hitting $228.40. 227,007 shares of the company were exchanged, compared to its average volume of 354,945. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 20.97 and a beta of 0.92. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The business's fifty day moving average is $220.25 and its two-hundred day moving average is $213.73.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm posted $5.57 EPS. The business's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

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

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on RGA shares. JPMorgan Chase & Co. increased their price target on shares of 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. Wells Fargo & Company raised their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Raymond James upped their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Three equities research 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $227.77.

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.