Sumitomo Mitsui Trust Holdings Inc. Sells 178 Shares of Reinsurance Group of America Inc (NYSE:RGA)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Reinsurance Group of America Inc (NYSE:RGA) by 0.1% in the third quarter, HoldingsChannel reports. The fund owned 245,151 shares of the insurance provider’s stock after selling 178 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reinsurance Group of America were worth $39,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGA. Next Capital Management LLC bought a new position in shares of Reinsurance Group of America in the second quarter worth about $28,000. Usca Ria LLC bought a new position in shares of Reinsurance Group of America in the third quarter worth about $28,000. First Interstate Bank bought a new position in shares of Reinsurance Group of America in the second quarter worth about $29,000. Motco bought a new position in shares of Reinsurance Group of America in the second quarter worth about $31,000. Finally, Valeo Financial Advisors LLC raised its stake in shares of Reinsurance Group of America by 50.0% in the third quarter. Valeo Financial Advisors LLC now owns 300 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 100 shares during the last quarter. 91.42% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 target price for the company in a research note on Friday, October 11th. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $144.00 to $146.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Finally, UBS Group dropped their price target on shares of Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $162.20.

RGA opened at $168.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.13. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 13.89 and a beta of 0.65. The firm has a 50 day simple moving average of $158.61 and a 200 day simple moving average of $154.15. Reinsurance Group of America Inc has a fifty-two week low of $129.17 and a fifty-two week high of $169.26.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $4.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.60. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.45 billion. Reinsurance Group of America had a net margin of 5.40% and a return on equity of 8.49%. Reinsurance Group of America’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.03 earnings per share. As a group, analysts expect that Reinsurance Group of America Inc will post 13.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is 23.10%.

In related news, EVP William L. Hutton sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $161.41, for a total transaction of $677,922.00. Following the completion of the transaction, the executive vice president now owns 22,713 shares in the company, valued at $3,666,105.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William L. Hutton sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $158.15, for a total transaction of $237,225.00. Following the transaction, the executive vice president now owns 16,239 shares of the company’s stock, valued at approximately $2,568,197.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,573 shares of company stock valued at $1,698,001. 0.78% of the stock is currently owned by insiders.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

Read More: Are we seeing the beginning of a new bubble?

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 Inc (NYSE:RGA).

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

Receive News & Ratings for Reinsurance Group of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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