Reinsurance Group of America Inc (RGA) Holdings Lowered by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its position in Reinsurance Group of America Inc (NYSE:RGA) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,400 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. Picton Mahoney Asset Management’s holdings in Reinsurance Group of America were worth $1,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Robecosam AG acquired a new position in shares of Reinsurance Group of America in the second quarter worth about $133,000. Iberiabank Corp acquired a new position in shares of Reinsurance Group of America in the third quarter worth about $205,000. Fulton Bank N.A. acquired a new position in shares of Reinsurance Group of America in the third quarter worth about $211,000. Hartford Investment Management Co. acquired a new position in shares of Reinsurance Group of America in the second quarter worth about $209,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Reinsurance Group of America in the second quarter worth about $218,000. Institutional investors own 92.03% of the company’s stock.

Several research analysts have commented on RGA shares. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a report on Thursday, October 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $150.00 target price on shares of Reinsurance Group of America in a report on Friday, July 27th. Credit Suisse Group reduced their price target on shares of Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. 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 target for the company in a research report on Monday, July 30th. Finally, ValuEngine raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $148.75.

NYSE RGA opened at $148.76 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $9.34 billion, a PE ratio of 13.13 and a beta of 0.74. Reinsurance Group of America Inc has a 52-week low of $127.84 and a 52-week high of $165.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.74. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Reinsurance Group of America had a net margin of 14.21% and a return on equity of 8.26%. Sell-side analysts predict that Reinsurance Group of America Inc will post 12.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, November 5th. Reinsurance Group of America’s dividend payout ratio (DPR) is 22.14%.

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

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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.

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

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