Denali Advisors LLC Acquires 4,800 Shares of Reinsurance Group of America Inc (NYSE:RGA)

Denali Advisors LLC increased its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 21.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,500 shares of the insurance provider’s stock after purchasing an additional 4,800 shares during the quarter. Denali Advisors LLC’s holdings in Reinsurance Group of America were worth $4,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RGA. Next Capital Management LLC purchased a new stake in Reinsurance Group of America in the 2nd quarter worth $28,000. First Interstate Bank acquired a new position in Reinsurance Group of America during the 2nd quarter worth approximately $29,000. Motco acquired a new position in Reinsurance Group of America during the 2nd quarter worth approximately $31,000. Advisory Services Network LLC grew its holdings in Reinsurance Group of America by 2,806.3% during the 2nd quarter. Advisory Services Network LLC now owns 465 shares of the insurance provider’s stock worth $73,000 after acquiring an additional 449 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Reinsurance Group of America during the 2nd quarter worth approximately $86,000. 91.28% of the stock is currently owned by institutional investors.

In other news, EVP William L. Hutton sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $160.00, for a total value of $240,000.00. Following the completion of the transaction, the executive vice president now owns 14,739 shares in the company, valued at approximately $2,358,240. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arnoud W.A. Boot sold 800 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.12, for a total transaction of $116,096.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,000 shares of company stock valued at $1,271,243. Company insiders own 0.78% of the company’s stock.

RGA has been the subject of several analyst reports. Royal Bank of Canada set a $170.00 price target on shares of Reinsurance Group of America and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $142.00 to $144.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Citigroup upped their target price on shares of Reinsurance Group of America from $173.00 to $181.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, ValuEngine cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Reinsurance Group of America has a consensus rating of “Hold” and an average price target of $161.00.

Shares of Reinsurance Group of America stock traded up $0.87 during trading hours on Wednesday, hitting $151.92. The company had a trading volume of 107,664 shares, compared to its average volume of 306,529. The company’s 50-day moving average is $155.45 and its two-hundred day moving average is $152.11. Reinsurance Group of America Inc has a twelve month low of $127.84 and a twelve month high of $163.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $9.79 billion, a P/E ratio of 12.53 and a beta of 0.66.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Monday, July 29th. The insurance provider reported $3.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.06). Reinsurance Group of America had a net margin of 5.85% and a return on equity of 9.19%. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the company posted $3.10 EPS. Sell-side analysts expect that Reinsurance Group of America Inc will post 13.02 EPS for the current year.

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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