Reinsurance Group of America, Incorporated (NYSE:RGA) Stake Reduced by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 20.9% in the third quarter, Holdings Channel.com reports. The fund owned 401,691 shares of the insurance provider’s stock after selling 106,149 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Reinsurance Group of America were worth $87,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its holdings in Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares during the last quarter. M&G Plc lifted its holdings in Reinsurance Group of America by 5.0% in the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after acquiring an additional 4,025 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at about $1,925,000. Insight Wealth Strategies LLC acquired a new stake in Reinsurance Group of America in the 3rd quarter valued at about $3,548,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Reinsurance Group of America by 23.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider’s stock valued at $6,527,000 after acquiring an additional 6,144 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $220.32 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. 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 moving average price is $220.76 and its two-hundred day moving average price is $214.16. The company has a market capitalization of $14.51 billion, a P/E ratio of 20.23 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.57 EPS. Analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred 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 directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was 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 through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of 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 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. Wells Fargo & Company boosted their target price on shares of 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. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.77.

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.