Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 25,953 shares of the insurance provider’s stock after selling 698 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reinsurance Group of America were worth $3,265,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Raymond James Trust N.A. bought a new position in Reinsurance Group of America during the 2nd quarter worth approximately $271,000. Fox Run Management L.L.C. bought a new position in Reinsurance Group of America during the 2nd quarter worth approximately $269,000. Los Angeles Capital Management LLC lifted its holdings in Reinsurance Group of America by 106.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 10,488 shares of the insurance provider’s stock worth $1,230,000 after buying an additional 5,410 shares during the last quarter. Bailard Inc. bought a new position in Reinsurance Group of America during the 3rd quarter worth approximately $467,000. Finally, Victory Capital Management Inc. lifted its holdings in Reinsurance Group of America by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 761,295 shares of the insurance provider’s stock worth $89,293,000 after buying an additional 13,799 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RGA shares. Citigroup increased their target price on Reinsurance Group of America from $112.00 to $116.00 in a report on Wednesday, November 16th. TheStreet upgraded Reinsurance Group of America from a “c+” rating to a “b-” rating in a research report on Thursday, November 3rd. Evercore ISI upgraded Reinsurance Group of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $148.00 to $167.00 in a research report on Thursday. Morgan Stanley increased their price target on Reinsurance Group of America from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, November 4th. Finally, Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $145.00 to $170.00 in a research report on Tuesday, December 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.10.

Reinsurance Group of America Stock Up 0.2 %

Shares of RGA stock opened at $145.56 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $97.61 and a 1 year high of $148.75. The stock has a market cap of $9.73 billion, a PE ratio of 17.17 and a beta of 0.89. The business’s fifty day moving average is $141.15 and its 200-day moving average is $130.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGAGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The insurance provider reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $2.26. Reinsurance Group of America had a return on equity of 9.22% and a net margin of 3.54%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4 billion. Equities analysts expect that Reinsurance Group of America, Incorporated will post 15.08 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, November 14th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 37.74%.

About Reinsurance Group of America

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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

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