BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $8.14 Million Stake in Reinsurance Group of America Inc (RGA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 107.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,325 shares of the insurance provider’s stock after buying an additional 29,185 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Reinsurance Group of America worth $8,142,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $218,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Reinsurance Group of America by 8.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 8,186 shares of the insurance provider’s stock valued at $1,093,000 after buying an additional 620 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Reinsurance Group of America by 7.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 207,473 shares of the insurance provider’s stock valued at $27,693,000 after buying an additional 14,130 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Reinsurance Group of America by 41.6% in the 2nd quarter. First Trust Advisors LP now owns 201,005 shares of the insurance provider’s stock valued at $26,830,000 after buying an additional 59,028 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Reinsurance Group of America by 85.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 28,826 shares of the insurance provider’s stock valued at $3,848,000 after buying an additional 13,323 shares during the last quarter. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 620 shares of the firm’s stock in a transaction 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 owns 6,409 shares of the company’s stock, valued at approximately $935,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anna Manning sold 4,034 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $148.23, for a total value of $597,959.82. Following the sale, the president now directly owns 20,667 shares of the company’s stock, valued at approximately $3,063,469.41. The disclosure for this sale can be found here. Insiders have sold a total of 11,154 shares of company stock valued at $1,656,950 in the last ninety days. Insiders own 1.47% of the company’s stock.

Several equities research analysts have recently commented on RGA shares. Morgan Stanley increased their price objective on Reinsurance Group of America from $131.00 to $134.00 and gave the company an “underweight” rating in a report on Tuesday, November 13th. Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Credit Suisse Group cut their price objective on Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $146.00.

Shares of Reinsurance Group of America stock opened at $139.60 on Friday. Reinsurance Group of America Inc has a 1 year low of $127.84 and a 1 year high of $164.86. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 12.88 and a beta of 0.73. 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 announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.74. Reinsurance Group of America had a return on equity of 8.26% and a net margin of 14.21%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. On average, sell-side analysts forecast that Reinsurance Group of America Inc will post 12.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Monday, November 5th. Reinsurance Group of America’s dividend payout ratio is 22.14%.

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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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