Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,436 shares of the insurance provider’s stock after selling 156 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Reinsurance Group of America were worth $749,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RGA. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America in the first quarter worth about $28,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the second quarter worth about $28,000. Rise Advisors LLC acquired a new stake in Reinsurance Group of America in the first quarter worth about $29,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at about $29,000. Finally, LRI Investments LLC acquired a new stake in Reinsurance Group of America in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is owned by company insiders.

Reinsurance Group of America Stock Down 1.0 %

Shares of Reinsurance Group of America stock opened at $216.82 on Friday. The stock has a market capitalization of $14.28 billion, a P/E ratio of 16.87 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $214.55 and a two-hundred day moving average price of $207.41. Reinsurance Group of America, Incorporated has a 12-month low of $144.74 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.40 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is presently 27.70%.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen initiated coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Raymond James upped their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.