Mirae Asset Global Investments Co. Ltd. Acquires 639 Shares of Reinsurance Group of America Inc (RGA)

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Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 17.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,406 shares of the insurance provider’s stock after buying an additional 639 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Reinsurance Group of America were worth $618,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RGA. Texas Permanent School Fund lifted its position in shares of Reinsurance Group of America by 2.6% in the 4th quarter. Texas Permanent School Fund now owns 41,079 shares of the insurance provider’s stock worth $5,761,000 after purchasing an additional 1,026 shares during the period. Dean Capital Investments Management LLC lifted its position in shares of Reinsurance Group of America by 14.4% in the 4th quarter. Dean Capital Investments Management LLC now owns 4,034 shares of the insurance provider’s stock worth $566,000 after purchasing an additional 508 shares during the period. California Public Employees Retirement System lifted its position in shares of Reinsurance Group of America by 27.5% in the 4th quarter. California Public Employees Retirement System now owns 376,958 shares of the insurance provider’s stock worth $52,861,000 after purchasing an additional 81,417 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of Reinsurance Group of America by 37.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 708,655 shares of the insurance provider’s stock worth $99,375,000 after purchasing an additional 192,013 shares during the period. Finally, Bbva Compass Bancshares Inc. lifted its position in shares of Reinsurance Group of America by 1.8% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 9,912 shares of the insurance provider’s stock worth $1,390,000 after purchasing an additional 180 shares during the period. 91.83% of the stock is currently owned by institutional investors.

RGA has been the subject of several research analyst reports. Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada raised shares of Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Reinsurance Group of America has a consensus rating of “Hold” and an average target price of $144.83.

Shares of NYSE RGA opened at $144.27 on Friday. Reinsurance Group of America Inc has a 1 year low of $127.84 and a 1 year high of $163.00. The stock has a market cap of $8.99 billion, a P/E ratio of 11.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.13.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Monday, January 28th. The insurance provider reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.08. Reinsurance Group of America had a net margin of 5.56% and a return on equity of 9.11%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the company posted $2.60 EPS. Reinsurance Group of America’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Reinsurance Group of America Inc will post 13.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 7th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, February 6th. This represents a $2.40 dividend on an annualized basis and a yield of 1.66%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 19.80%.

Reinsurance Group of America announced that its board has authorized a share repurchase plan on Monday, January 28th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other Reinsurance Group of America news, EVP John P. Laughlin, Jr. sold 2,753 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $143.19, for a total transaction of $394,202.07. Following the completion of the sale, the executive vice president now directly owns 31,922 shares in the company, valued at approximately $4,570,911.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan C. Henderson sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $145.00, for a total transaction of $174,000.00. Following the sale, the director now owns 17,715 shares of the company’s stock, valued at $2,568,675. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,533 shares of company stock valued at $1,662,897. 0.69% of the stock is currently owned by corporate insiders.

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About Reinsurance Group of America

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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