IFM Investors Pty Ltd Buys 1,715 Shares of Reinsurance Group of America Inc (NYSE:RGA)

IFM Investors Pty Ltd lifted its stake in Reinsurance Group of America Inc (NYSE:RGA) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,526 shares of the insurance provider’s stock after purchasing an additional 1,715 shares during the period. IFM Investors Pty Ltd’s holdings in Reinsurance Group of America were worth $1,043,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. raised its stake in Reinsurance Group of America by 12.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,547 shares of the insurance provider’s stock worth $865,000 after buying an additional 615 shares during the period. First Interstate Bank acquired a new stake in Reinsurance Group of America during the 2nd quarter worth $29,000. Bessemer Group Inc. raised its stake in Reinsurance Group of America by 63.7% during the 2nd quarter. Bessemer Group Inc. now owns 17,359 shares of the insurance provider’s stock worth $2,709,000 after buying an additional 6,755 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Reinsurance Group of America by 99.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,594 shares of the insurance provider’s stock worth $3,375,000 after buying an additional 10,770 shares during the period. Finally, PhiloSmith Capital Corp raised its stake in Reinsurance Group of America by 1.4% during the 3rd quarter. PhiloSmith Capital Corp now owns 74,550 shares of the insurance provider’s stock worth $11,919,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 91.42% of the company’s stock.

Shares of RGA traded up $0.33 during midday trading on Friday, hitting $167.95. The stock had a trading volume of 151,162 shares, compared to its average volume of 301,284. The company has a 50 day simple moving average of $158.78 and a two-hundred day simple moving average of $154.23. Reinsurance Group of America Inc has a twelve month low of $129.17 and a twelve month high of $169.26. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 13.86 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.13.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $4.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.42 by $0.60. Reinsurance Group of America had a return on equity of 8.49% and a net margin of 5.40%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $4.03 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts forecast that Reinsurance Group of America Inc will post 13.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.60. Reinsurance Group of America’s payout ratio is currently 23.10%.

Several analysts recently commented on the company. Royal Bank of Canada set a $170.00 price objective on Reinsurance Group of America and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup raised their price objective on Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Morgan Stanley raised their price objective on Reinsurance Group of America from $144.00 to $146.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. UBS Group dropped their price target on Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 price target on the stock in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Reinsurance Group of America currently has a consensus rating of “Hold” and an average price target of $162.20.

In related news, EVP William L. Hutton sold 1,500 shares of Reinsurance Group of America stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $158.15, for a total value of $237,225.00. Following the sale, the executive vice president now owns 16,239 shares of the company’s stock, valued at $2,568,197.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alka Gautam sold 2,573 shares of Reinsurance Group of America stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.86, for a total value of $426,757.78. Following the completion of the sale, the chief executive officer now directly owns 11,082 shares in the company, valued at approximately $1,838,060.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,573 shares of company stock worth $1,698,001. 0.78% of the stock is owned by company insiders.

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.

Further Reading: Gross Domestic Product (GDP)

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

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