Martingale Asset Management L P Sells 12,602 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Martingale Asset Management L P lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 115,030 shares of the insurance provider’s stock after selling 12,602 shares during the quarter. Martingale Asset Management L P’s holdings in Reinsurance Group of America were worth $25,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new position in Reinsurance Group of America during the third quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the second quarter valued at $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the second quarter valued at $29,000. Private Trust Co. NA lifted its stake in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 120 shares during the last quarter. Finally, Wolff Wiese Magana LLC acquired a new stake in Reinsurance Group of America in the third quarter valued at $34,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling

In other Reinsurance Group of America 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 value of $264,734.73. Following the transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $229.46 on Friday. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.81. 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 business has a fifty day moving average price of $220.07 and a 200-day moving average price of $213.53. The company has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $5.57 EPS. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.55%. Reinsurance Group of America’s payout ratio is 32.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGA. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. TD Cowen started coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target 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. Royal Bank of Canada increased their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Morgan Stanley reduced their price objective 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 note on Monday, August 19th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Profile

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.