SG Americas Securities LLC Reduces Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

SG Americas Securities LLC lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 93.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,023 shares of the insurance provider’s stock after selling 14,387 shares during the quarter. SG Americas Securities LLC’s holdings in Reinsurance Group of America were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RGA. Janiczek Wealth Management LLC lifted its holdings in Reinsurance Group of America by 40.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock worth $74,000 after buying an additional 111 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Reinsurance Group of America by 13.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,394 shares of the insurance provider’s stock valued at $655,000 after purchasing an additional 392 shares during the period. First Bank & Trust purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $209,000. Oliver Luxxe Assets LLC lifted its stake in shares of Reinsurance Group of America by 2.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 4,791 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 104 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Reinsurance Group of America by 57.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider’s stock valued at $44,897,000 after purchasing an additional 84,647 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Citigroup raised their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $226.62.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $213.32 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a one year low of $144.74 and a one year high of $227.87. The firm has a market capitalization of $14.05 billion, a P/E ratio of 16.60 and a beta of 0.91. The business has a fifty day moving average of $215.02 and a 200 day moving average of $207.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the company posted $4.40 earnings per share. Reinsurance Group of America’s revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.8 EPS 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. Investors 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 is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.67%. Reinsurance Group of America’s payout ratio is 27.70%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by company insiders.

About Reinsurance Group of America

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.