MetLife Investment Management LLC Cuts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

MetLife Investment Management LLC lessened its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,036 shares of the insurance provider’s stock after selling 608 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Reinsurance Group of America worth $7,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Earnest Partners LLC boosted its holdings in Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after acquiring an additional 50,228 shares in the last quarter. WCM Investment Management LLC boosted its stake in Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Sei Investments Co. grew its position in Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after purchasing an additional 45,709 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

RGA opened at $228.45 on Friday. The firm has a fifty day moving average price of $220.25 and a 200 day moving average price of $213.68. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The stock has a market cap of $15.05 billion, a P/E ratio of 20.98 and a beta of 0.92. 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 (NYSE:RGA) last issued its quarterly earnings data 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the firm posted $5.57 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Analysts Set New Price Targets

RGA has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. TD Cowen assumed coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Raymond James upped their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada raised their price target on shares of 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. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity

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

Reinsurance Group of America Company 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.