Legal & General Group Plc Buys 30,122 Shares of Reinsurance Group of America, Incorporated (RGA)

Legal & General Group Plc boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 30.9% during the first quarter, Holdings Channel reports. The firm owned 127,536 shares of the insurance provider’s stock after buying an additional 30,122 shares during the period. Legal & General Group Plc’s holdings in Reinsurance Group of America, were worth $16,192,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investec Asset Management LTD increased its position in shares of Reinsurance Group of America, by 1.8% in the first quarter. Investec Asset Management LTD now owns 49,340 shares of the insurance provider’s stock worth $6,265,000 after buying an additional 867 shares during the period. Israel Discount Bank of New York purchased a new position in shares of Reinsurance Group of America, during the first quarter worth $125,000. Origin Asset Management LLP increased its position in shares of Reinsurance Group of America, by 7.3% in the first quarter. Origin Asset Management LLP now owns 228,179 shares of the insurance provider’s stock worth $28,974,000 after buying an additional 15,429 shares during the period. Bridgewater Associates LP purchased a new position in shares of Reinsurance Group of America, during the first quarter worth $768,000. Finally, Teachers Advisors LLC increased its position in shares of Reinsurance Group of America, by 5.5% in the first quarter. Teachers Advisors LLC now owns 175,687 shares of the insurance provider’s stock worth $22,309,000 after buying an additional 9,110 shares during the period. Institutional investors and hedge funds own 94.75% of the company’s stock.

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

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) traded down 0.63% during mid-day trading on Tuesday, reaching $128.39. 19,984 shares of the company traded hands. The stock’s 50-day moving average is $125.70 and its 200-day moving average is $126.49. The company has a market capitalization of $8.27 billion, a P/E ratio of 10.84 and a beta of 0.83. Reinsurance Group of America, Incorporated has a 52 week low of $90.26 and a 52 week high of $132.79.

Reinsurance Group of America, (NYSE:RGA) last announced its quarterly earnings data on Thursday, April 27th. The insurance provider reported $1.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by $0.25. Reinsurance Group of America, had a net margin of 6.41% and a return on equity of 8.43%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business earned $1.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post $9.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 9th were issued a dividend of $0.41 per share. The ex-dividend date was Friday, May 5th. This represents a $1.64 annualized dividend and a yield of 1.27%. Reinsurance Group of America,’s dividend payout ratio (DPR) is currently 13.84%.

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A number of research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Reinsurance Group of America, from a “hold” rating to a “sell” rating in a research report on Monday, June 5th. Jefferies Group LLC decreased their price objective on shares of Reinsurance Group of America, from $80.00 to $77.00 and set a “hold” rating for the company in a research report on Monday, May 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $127.00 price objective on shares of Reinsurance Group of America, in a research report on Friday, April 28th. Wells Fargo & Co reiterated a “hold” rating on shares of Reinsurance Group of America, in a research report on Friday, April 28th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $125.00 price objective on shares of Reinsurance Group of America, in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $119.00.

In other Reinsurance Group of America, news, Director Christine Rose Detrick sold 500 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $127.00, for a total transaction of $63,500.00. Following the completion of the transaction, the director now directly owns 5,432 shares in the company, valued at approximately $689,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.47% of the company’s stock.

About Reinsurance Group of America,

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RGA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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