State Treasurer State of Michigan Sells 2,200 Shares of Reinsurance Group of America, Incorporated (RGA)

State Treasurer State of Michigan cut its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,300 shares of the insurance provider’s stock after selling 2,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Reinsurance Group of America, were worth $3,391,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capstone Asset Management Co. grew its position in Reinsurance Group of America, by 2.0% during the 2nd quarter. Capstone Asset Management Co. now owns 8,186 shares of the insurance provider’s stock worth $1,051,000 after acquiring an additional 160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Reinsurance Group of America, by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 203,494 shares of the insurance provider’s stock worth $26,127,000 after acquiring an additional 4,100 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Reinsurance Group of America, during the 2nd quarter worth approximately $3,080,000. Airain ltd bought a new position in Reinsurance Group of America, during the 2nd quarter worth approximately $1,740,000. Finally, Canada Pension Plan Investment Board grew its position in Reinsurance Group of America, by 14.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the insurance provider’s stock worth $1,310,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

RGA has been the topic of several recent research reports. Zacks Investment Research upgraded Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Friday, July 7th. Goldman Sachs Group, Inc. (The) initiated coverage on Reinsurance Group of America, in a research report on Wednesday, October 18th. They set a “buy” rating and a $153.00 price target on the stock. Royal Bank Of Canada restated a “hold” rating and set a $134.00 price target on shares of Reinsurance Group of America, in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $137.00 price objective on shares of Reinsurance Group of America, in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company reiterated a “hold” rating and issued a $131.00 price objective on shares of Reinsurance Group of America, in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $133.88.

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Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) opened at 150.61 on Tuesday. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 12.83 and a beta of 0.85. The stock has a 50 day moving average price of $140.69 and a 200-day moving average price of $133.08. Reinsurance Group of America, Incorporated has a 12 month low of $107.12 and a 12 month high of $152.19.

Reinsurance Group of America, (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.82. Reinsurance Group of America, had a return on equity of 9.32% and a net margin of 6.44%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Reinsurance Group of America,’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that Reinsurance Group of America, Incorporated will post $10.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.00 annualized dividend and a yield of 1.33%. Reinsurance Group of America,’s dividend payout ratio (DPR) is currently 16.46%.

In related news, EVP William L. Hutton sold 4,339 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $140.42, for a total value of $609,282.38. Following the transaction, the executive vice president now owns 18,624 shares of the company’s stock, valued at $2,615,182.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan C. Henderson sold 440 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $139.87, for a total value of $61,542.80. Following the completion of the transaction, the director now directly owns 20,418 shares in the company, valued at approximately $2,855,865.66. The disclosure for this sale can be found here. In the last three months, insiders sold 14,220 shares of company stock worth $1,991,735. 1.47% of the stock is owned by insiders.

Reinsurance Group of America, Company Profile

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

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Institutional Ownership by Quarter for Reinsurance Group of America, (NYSE:RGA)

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