Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,818 shares of the insurance provider’s stock after selling 980 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Reinsurance Group of America were worth $6,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. Armstrong Advisory Group Inc. purchased a new stake in Reinsurance Group of America in the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at about $28,000. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America in the 2nd quarter valued at about $28,000. Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.3 %

RGA opened at $229.61 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 21.08 and a beta of 0.92. The business has a fifty day moving average price of $216.67 and a 200 day moving average price of $211.22. Reinsurance Group of America, Incorporated has a 12 month low of $156.98 and a 12 month high of $232.70.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $5.57 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RGA. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, TD Cowen assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective on the stock. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.38.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.