Reinsurance Group of America, Incorporated $RGA Stock: Sumitomo Mitsui Trust Group Inc. Grows Holdings

Sumitomo Mitsui Trust Group Inc. boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 138.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,334 shares of the insurance provider’s stock after buying an additional 8,901 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Reinsurance Group of America were worth $3,776,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Engineers Gate Manager LP lifted its position in shares of Reinsurance Group of America by 26.8% in the second quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock valued at $5,363,000 after acquiring an additional 5,331 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Reinsurance Group of America in the 2nd quarter valued at $1,489,000. Sequoia Financial Advisors LLC raised its stake in Reinsurance Group of America by 77.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,716 shares of the insurance provider’s stock valued at $2,491,000 after purchasing an additional 5,118 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Reinsurance Group of America by 3.0% in the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after purchasing an additional 82,681 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Reinsurance Group of America by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider’s stock worth $30,525,000 after purchasing an additional 4,913 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America News Summary

Here are the key news stories impacting Reinsurance Group of America this week:

• Positive Sentiment: RGA earned $8.49 per share, topping consensus estimates of about $6.97 and rising from $6.37 a year earlier. Revenue of $7.55 billion also exceeded estimates of $6.69 billion. Article: Reinsurance Group Tops Q3 Earnings and Revenue Estimates
• Neutral Sentiment: The company declared a $0.98 dividend, providing income for shareholders; the announcement did not specify a change to the payout. Article: Reinsurance Group of America Declares $0.98 Dividend

Insider Transactions at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were 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 directly owned 14,885 shares in the company, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Reinsurance Group of America Trading Down 0.1%

NYSE RGA traded down $0.35 on Friday, reaching $261.61. 729,046 shares of the company were exchanged, compared to its average volume of 458,073. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $255.16 and its 200 day moving average price is $226.33. The stock has a market capitalization of $17.08 billion, a P/E ratio of 10.11 and a beta of 0.43. Reinsurance Group of America, Incorporated has a fifty-two week low of $182.73 and a fifty-two week high of $272.44.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $6.69 billion. During the same period last year, the company earned $6.37 EPS. Analysts forecast that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.5%. Reinsurance Group of America’s dividend payout ratio is currently 17.22%.

Analyst Ratings Changes

A number of brokerages have recently commented on RGA. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. TD Cowen boosted their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, October 21st. Barclays set a $292.00 price objective on shares of Reinsurance Group of America in a research note on Thursday, October 8th. 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. Finally, Morgan Stanley raised shares of Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price on the stock in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $273.75.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.