Cornerstone Capital Management Holdings LLC. Takes Position in Reinsurance Group of America Inc (RGA)

Cornerstone Capital Management Holdings LLC. bought a new stake in Reinsurance Group of America Inc (NYSE:RGA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,474 shares of the insurance provider’s stock, valued at approximately $2,298,000.

Several other hedge funds also recently made changes to their positions in RGA. Toronto Dominion Bank grew its stake in shares of Reinsurance Group of America by 11.7% in the 2nd quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 83 shares during the last quarter. Acrospire Investment Management LLC grew its stake in shares of Reinsurance Group of America by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 400 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Reinsurance Group of America by 27.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,157 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 248 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $167,000. Finally, Halsey Associates Inc. CT acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $205,000. Institutional investors own 91.44% of the company’s stock.

Several research firms have recently commented on RGA. Royal Bank of Canada reissued a “hold” rating and issued a $165.00 price target on shares of Reinsurance Group of America in a report on Friday, December 8th. Wells Fargo & Company reissued a “hold” rating and issued a $131.00 price target on shares of Reinsurance Group of America in a report on Thursday, October 26th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $148.00 price target on shares of Reinsurance Group of America in a report on Friday, November 10th. Goldman Sachs Group began coverage on Reinsurance Group of America in a report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price target for the company. Finally, Citigroup set a $171.00 price target on Reinsurance Group of America and gave the company a “buy” rating in a report on Tuesday, November 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $141.13.

In related news, EVP John P. Laughlin, Jr. sold 1,000 shares of Reinsurance Group of America stock in a transaction on Monday, November 6th. The stock was sold at an average price of $149.96, for a total transaction of $149,960.00. Following the completion of the transaction, the executive vice president now directly owns 27,277 shares of the company’s stock, valued at $4,090,458.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christine Rose Detrick sold 659 shares of Reinsurance Group of America 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 transaction, the director now directly owns 4,023 shares of the company’s stock, valued at $601,438.50. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Shares of Reinsurance Group of America Inc (RGA) opened at $154.43 on Thursday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $9,975.54, a P/E ratio of 14.24, a PEG ratio of 1.55 and a beta of 0.82. Reinsurance Group of America Inc has a 1-year low of $121.93 and a 1-year high of $165.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported $3.44 EPS for the quarter, beating the consensus estimate of $2.62 by $0.82. The business 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 company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. sell-side analysts anticipate that Reinsurance Group of America Inc will post 11.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $2.00 annualized dividend and a yield of 1.30%. Reinsurance Group of America’s dividend payout ratio is presently 16.46%.

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About Reinsurance Group of America

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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