Charles Schwab Investment Management Inc. Cuts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Charles Schwab Investment Management Inc. cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 426,044 shares of the insurance provider’s stock after selling 2,254 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Reinsurance Group of America were worth $92,822,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RGA. WCM Investment Management LLC grew its position in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI grew its holdings in shares of 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 purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after purchasing an additional 133,212 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Reinsurance Group of America in the 3rd quarter worth $11,803,000. Finally, Earnest Partners LLC lifted its stake in 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 last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

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 that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, 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 8.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Trading Up 0.1 %

RGA opened at $231.58 on Wednesday. Reinsurance Group of America, Incorporated has a 52 week low of $157.48 and a 52 week high of $233.81. The stock has a market cap of $15.25 billion, a PE ratio of 21.27 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $219.64 and a 200-day moving average of $213.30.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company posted $5.57 EPS. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Wall Street Analysts Forecast Growth

RGA has been the topic of several analyst reports. Barclays lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. 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. JPMorgan Chase & Co. boosted their price objective 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 increased their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen began coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Company 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.