Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Position Decreased by Summit Global Investments

Summit Global Investments reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,957 shares of the insurance provider’s stock after selling 1,508 shares during the period. Summit Global Investments’ holdings in Reinsurance Group of America were worth $317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in Reinsurance Group of America during the 4th quarter valued at approximately $2,993,000. Picton Mahoney Asset Management boosted its holdings in shares of Reinsurance Group of America by 121.9% during the third quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock valued at $17,794,000 after acquiring an additional 67,318 shares during the period. International Assets Investment Management LLC grew its position in shares of Reinsurance Group of America by 16,078.1% during the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after acquiring an additional 22,027 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock worth $39,599,000 after acquiring an additional 28,193 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after purchasing an additional 10,968 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Insiders sold 6,462 shares of company stock worth $1,162,239 in the last quarter. 1.37% of the stock is owned by company insiders.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $201.65 on Monday. Reinsurance Group of America, Incorporated has a 12-month low of $133.13 and a 12-month high of $202.06. The stock has a market capitalization of $13.27 billion, a P/E ratio of 15.67 and a beta of 0.88. The firm’s 50 day moving average is $186.60 and its 200-day moving average is $171.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company earned $5.16 earnings per share. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Wall Street Analyst Weigh In

Several brokerages have commented on RGA. UBS Group raised their price target on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley lifted their target price on Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Evercore ISI upped their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.85.

About Reinsurance Group of America

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.