Fmr LLC Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Fmr LLC decreased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,076,095 shares of the insurance provider’s stock after selling 6,911 shares during the period. Fmr LLC owned 7.71% of Reinsurance Group of America worth $1,105,929,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RGA. Earnest Partners LLC lifted its holdings in shares of Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares in the last quarter. WCM Investment Management LLC increased its holdings in Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after acquiring an additional 2,260,605 shares during the period. Sei Investments Co. lifted its stake in Reinsurance Group of America by 5.9% in the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the period. Finally, Millennium Management LLC boosted its holdings in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after purchasing an additional 133,212 shares during the period. Institutional investors own 95.11% of the company’s stock.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. This represents a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RGA has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James upped their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Reinsurance Group of America Price Performance

RGA stock opened at $229.46 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $15.11 billion, a P/E ratio of 21.07 and a beta of 0.92. The firm’s fifty day moving average is $219.86 and its 200 day moving average is $213.42. Reinsurance Group of America, Incorporated has a 52 week low of $157.48 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $5.57 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.55%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.