Reinsurance Group of America, Incorporated $RGA Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 417,970 shares of the insurance provider’s stock after purchasing an additional 2,493 shares during the quarter. Bank of New York Mellon Corp’s holdings in Reinsurance Group of America were worth $85,333,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Reinsurance Group of America by 10.0% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,400 shares of the insurance provider’s stock valued at $5,592,000 after buying an additional 2,500 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Reinsurance Group of America by 3.8% during the 1st quarter. Sanctuary Advisors LLC now owns 8,572 shares of the insurance provider’s stock worth $1,750,000 after buying an additional 316 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Reinsurance Group of America in the 1st quarter worth approximately $4,247,000. State of Michigan Retirement System grew its position in shares of Reinsurance Group of America by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 15,852 shares of the insurance provider’s stock worth $3,236,000 after acquiring an additional 300 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Reinsurance Group of America by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider’s stock worth $30,525,000 after acquiring an additional 4,913 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.8%

Shares of NYSE RGA opened at $238.97 on Wednesday. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $245.00. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 12.95 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $215.17 and its 200 day simple moving average is $210.18.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the prior year, the business earned $5.66 EPS. The firm’s revenue was up 23.5% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $257.50.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

About Reinsurance Group of America

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.