Reinsurance Group of America Inc (RGA) Shares Sold by State Treasurer State of Michigan

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State Treasurer State of Michigan trimmed its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,400 shares of the insurance provider’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in Reinsurance Group of America were worth $3,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Daiwa SB Investments Ltd. grew its position in Reinsurance Group of America by 11.1% during the fourth quarter. Daiwa SB Investments Ltd. now owns 700 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 70 shares during the last quarter. Anderson Hoagland & Co. grew its position in Reinsurance Group of America by 0.8% during the fourth quarter. Anderson Hoagland & Co. now owns 15,421 shares of the insurance provider’s stock valued at $2,095,000 after acquiring an additional 118 shares during the last quarter. Fulton Bank N.A. grew its position in Reinsurance Group of America by 9.5% during the fourth quarter. Fulton Bank N.A. now owns 1,598 shares of the insurance provider’s stock valued at $224,000 after acquiring an additional 139 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Reinsurance Group of America by 1.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 22,228 shares of the insurance provider’s stock valued at $3,117,000 after acquiring an additional 233 shares during the last quarter. Finally, RDL Financial Inc. grew its position in Reinsurance Group of America by 1.8% during the fourth quarter. RDL Financial Inc. now owns 17,726 shares of the insurance provider’s stock valued at $2,486,000 after acquiring an additional 320 shares during the last quarter. 98.16% of the stock is currently owned by institutional investors.

Reinsurance Group of America stock traded down $1.00 during trading hours on Monday, reaching $141.32. The company had a trading volume of 4,081 shares, compared to its average volume of 373,754. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.12. The stock has a market capitalization of $8.93 billion, a P/E ratio of 11.64 and a beta of 0.68. Reinsurance Group of America Inc has a 12-month low of $127.84 and a 12-month high of $163.00.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Monday, January 28th. The insurance provider reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.08. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Reinsurance Group of America had a return on equity of 9.11% and a net margin of 5.56%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. Sell-side analysts expect that Reinsurance Group of America Inc will post 13.13 earnings per share for the current fiscal year.

Reinsurance Group of America declared that its board has initiated a stock buyback plan on Monday, January 28th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 7th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $2.40 dividend on an annualized basis and a yield of 1.70%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 19.80%.

In other news, President Anna Manning sold 4,034 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $148.23, for a total transaction of $597,959.82. Following the transaction, the president now directly owns 20,667 shares of the company’s stock, valued at $3,063,469.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John P. Laughlin, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $148.13, for a total value of $296,260.00. Following the transaction, the executive vice president now directly owns 30,169 shares in the company, valued at $4,468,933.97. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 400 shares of company stock worth $53,620 and sold 8,787 shares worth $1,288,422. 0.69% of the stock is owned by insiders.

A number of equities analysts have commented on RGA shares. Zacks Investment Research cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Morgan Stanley lifted their price target on Reinsurance Group of America from $131.00 to $134.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 13th. Finally, Royal Bank of Canada raised Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research note on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $148.14.

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Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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