Pendal Group Ltd Sells 19,338 Shares of Reinsurance Group of America Inc (RGA)

Pendal Group Ltd decreased its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 61.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,329 shares of the insurance provider’s stock after selling 19,338 shares during the period. Pendal Group Ltd’s holdings in Reinsurance Group of America were worth $1,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Reinsurance Group of America in the second quarter worth about $2,325,000. Swiss National Bank increased its stake in shares of Reinsurance Group of America by 3.3% in the second quarter. Swiss National Bank now owns 213,100 shares of the insurance provider’s stock worth $28,445,000 after purchasing an additional 6,900 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Reinsurance Group of America in the third quarter worth about $211,000. Schroder Investment Management Group increased its stake in shares of Reinsurance Group of America by 15.9% in the second quarter. Schroder Investment Management Group now owns 932,724 shares of the insurance provider’s stock worth $35,271,000 after purchasing an additional 128,283 shares in the last quarter. Finally, Burney Co. increased its stake in shares of Reinsurance Group of America by 9.8% in the second quarter. Burney Co. now owns 157,003 shares of the insurance provider’s stock worth $20,957,000 after purchasing an additional 14,017 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Shares of NYSE:RGA opened at $148.76 on Friday. The company has a market cap of $9.34 billion, a P/E ratio of 13.13 and a beta of 0.74. Reinsurance Group of America Inc has a 12 month low of $127.84 and a 12 month high of $165.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 25th. The insurance provider reported $4.03 EPS for the quarter, beating the consensus estimate of $3.29 by $0.74. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Reinsurance Group of America had a net margin of 14.21% and a return on equity of 8.26%. As a group, equities research analysts anticipate that Reinsurance Group of America Inc will post 12.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Tuesday, November 6th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.40 annualized dividend and a yield of 1.61%. Reinsurance Group of America’s dividend payout ratio is currently 22.14%.

In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $146.00, for a total value of $90,520.00. Following the completion of the transaction, the director now owns 6,409 shares of the company’s stock, valued at approximately $935,714. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Todd C. Larson sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $149.38, for a total transaction of $672,210.00. Following the completion of the transaction, the chief financial officer now directly owns 31,743 shares of the company’s stock, valued at approximately $4,741,769.34. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

Several equities analysts recently commented on the stock. Zacks Investment Research cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Monday, August 27th. Credit Suisse Group reduced their price objective on shares of Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. ValuEngine raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Monday, July 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $150.00 price objective on shares of Reinsurance Group of America in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $148.75.

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Reinsurance Group of America Profile

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.

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

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