Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 35.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,469 shares of the insurance provider’s stock after selling 7,808 shares during the quarter. Intech Investment Management LLC’s holdings in Reinsurance Group of America were worth $3,152,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the 3rd quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America in the first quarter valued at $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the second quarter worth about $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the 2nd quarter worth about $29,000. Finally, LRI Investments LLC purchased a new stake in Reinsurance Group of America in the 1st quarter valued at about $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $230.70 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. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.14. The company has a market capitalization of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The business has a 50-day moving average of $219.09 and a 200-day moving average of $212.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly 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. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.57 EPS. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Insiders Place Their Bets

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 completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. TD Cowen initiated coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective for the company. Royal Bank of Canada increased their target price 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. Finally, Barclays boosted their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

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.