Dean Capital Investments Management LLC cut its stake in Reinsurance Group of America Inc (NYSE:RGA) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,585 shares of the insurance provider’s stock after selling 238 shares during the period. Dean Capital Investments Management LLC’s holdings in Reinsurance Group of America were worth $573,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Next Capital Management LLC acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at $28,000. Usca Ria LLC bought a new position in shares of Reinsurance Group of America in the 3rd quarter worth $28,000. First Interstate Bank bought a new position in shares of Reinsurance Group of America in the 2nd quarter worth $29,000. Motco bought a new position in shares of Reinsurance Group of America in the 2nd quarter worth $31,000. Finally, Valeo Financial Advisors LLC boosted its position in shares of Reinsurance Group of America by 50.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 300 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 100 shares during the last quarter. 92.01% of the stock is owned by institutional investors and hedge funds.
RGA stock traded up $0.12 during midday trading on Tuesday, hitting $168.20. 14,457 shares of the company’s stock were exchanged, compared to its average volume of 252,725. The stock’s fifty day moving average price is $159.17 and its 200-day moving average price is $154.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $10.52 billion, a PE ratio of 13.88 and a beta of 0.65. Reinsurance Group of America Inc has a one year low of $129.17 and a one year high of $169.26.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change 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%.
RGA has been the topic of several recent research reports. Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 price target on the stock in a research report on Friday, October 11th. Royal Bank of Canada set a $170.00 price target on Reinsurance Group of America and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their price target on Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Morgan Stanley lifted their target price on Reinsurance Group of America from $144.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Finally, UBS Group reduced their target price on Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $162.20.
In other news, EVP William L. Hutton sold 4,200 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $161.41, for a total value of $677,922.00. Following the sale, the executive vice president now directly owns 22,713 shares in the company, valued at $3,666,105.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alka Gautam sold 2,573 shares of Reinsurance Group of America stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.86, for a total value of $426,757.78. Following the completion of the sale, the chief executive officer now directly owns 11,082 shares in the company, valued at approximately $1,838,060.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,573 shares of company stock worth $1,698,001. Corporate insiders own 0.78% of the company’s stock.
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.
Further Reading: Gross Domestic Product (GDP)
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