Burney Co. Has $11.01 Million Holdings in Reinsurance Group of America, Incorporated $RGA

Burney Co. cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,932 shares of the insurance provider’s stock after selling 10,162 shares during the period. Burney Co.’s holdings in Reinsurance Group of America were worth $11,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Reinsurance Group of America by 2.8% during the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock worth $450,823,000 after acquiring an additional 64,296 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after acquiring an additional 987,014 shares during the period. Geode Capital Management LLC grew its position in shares of Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock valued at $272,966,000 after acquiring an additional 12,682 shares during the period. Norges Bank acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth about $173,767,000. Finally, Sei Investments Co. increased its stake in shares of Reinsurance Group of America by 6.6% during the 3rd quarter. Sei Investments Co. now owns 840,884 shares of the insurance provider’s stock worth $161,557,000 after purchasing an additional 51,931 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $224.15 on Tuesday. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $229.21. The company’s 50 day moving average price is $209.84 and its two-hundred day moving average price is $207.86. The firm has a market cap of $14.68 billion, a PE ratio of 12.14 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.94. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.66 earnings per share. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Barclays boosted their price target on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Evercore reaffirmed an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, UBS Group lifted their target price on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.