3,679 Reinsurance Group of America, Incorporated $RGA Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 57.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,776 shares of the insurance provider’s stock after selling 3,679 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Reinsurance Group of America were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Copeland Capital Management LLC purchased a new stake in Reinsurance Group of America in the 3rd quarter valued at about $489,000. Krilogy Financial LLC increased its stake in shares of Reinsurance Group of America by 9.0% during the 3rd quarter. Krilogy Financial LLC now owns 2,871 shares of the insurance provider’s stock valued at $746,000 after acquiring an additional 236 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Reinsurance Group of America by 41.8% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,068 shares of the insurance provider’s stock worth $1,041,000 after acquiring an additional 1,200 shares during the period. Wedmont Private Capital lifted its holdings in shares of Reinsurance Group of America by 40.0% during the 3rd quarter. Wedmont Private Capital now owns 3,460 shares of the insurance provider’s stock worth $886,000 after acquiring an additional 989 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of Reinsurance Group of America by 8.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,961 shares of the insurance provider’s stock worth $975,000 after acquiring an additional 296 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $266.15 on Friday. Reinsurance Group of America, Incorporated has a 12 month low of $178.21 and a 12 month high of $267.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $17.38 billion, a P/E ratio of 11.69 and a beta of 0.45. The company’s fifty day moving average price is $249.31 and its two-hundred day moving average price is $227.83.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm earned $4.72 earnings per share. The company’s revenue was up 18.5% on a year-over-year basis. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 29.75 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.98 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 17.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RGA. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. TD Cowen lifted their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $268.33.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.