Allianz Asset Management GmbH Sells 62,933 Shares of Reinsurance Group of America, Incorporated (RGA)

Allianz Asset Management GmbH lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,144 shares of the insurance provider’s stock after selling 62,933 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.34% of Reinsurance Group of America worth $30,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in Reinsurance Group of America by 11.7% during the 2nd quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 83 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Reinsurance Group of America by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 400 shares in the last quarter. D.A. Davidson & CO. boosted its position in Reinsurance Group of America by 27.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,157 shares of the insurance provider’s stock valued at $148,000 after acquiring an additional 248 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $167,000. Finally, Halsey Associates Inc. CT bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $205,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

RGA has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on Reinsurance Group of America and gave the company a “market perform” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $148.00 target price on shares of Reinsurance Group of America in a research report on Friday, November 10th. Wells Fargo & Company reissued 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. Goldman Sachs Group assumed coverage on Reinsurance Group of America in a research report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Citigroup set a $171.00 price objective on Reinsurance Group of America and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $141.13.

Reinsurance Group of America, Incorporated (RGA) traded up $0.98 during trading on Friday, hitting $161.86. The stock had a trading volume of 343,643 shares, compared to its average volume of 415,959. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $10,424.43, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. Reinsurance Group of America, Incorporated has a 52-week low of $121.93 and a 52-week high of $165.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $3.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.82. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Reinsurance Group of America had a return on equity of 9.32% and a net margin of 6.44%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. equities research analysts forecast that Reinsurance Group of America, Incorporated will post 11.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 7th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Reinsurance Group of America’s payout ratio is 16.46%.

In related news, Director Christine Rose Detrick sold 659 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $149.50, for a total value of $98,520.50. Following the completion of the transaction, the director now owns 4,023 shares in the company, valued at approximately $601,438.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John P. Laughlin, Jr. sold 1,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $149.96, for a total value of $149,960.00. Following the completion of the transaction, the executive vice president now owns 27,277 shares of the company’s stock, valued at approximately $4,090,458.92. The disclosure for this sale can be found here. 1.47% of the stock is owned by company insiders.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.com-unik.info/2017/12/10/allianz-asset-management-gmbh-sells-62933-shares-of-reinsurance-group-of-america-incorporated-rga.html.

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.

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA).

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

What are top analysts saying about Reinsurance Group of America Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Reinsurance Group of America Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit