Raymond James & Associates Sells 33,176 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Raymond James & Associates trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,086 shares of the insurance provider’s stock after selling 33,176 shares during the period. Raymond James & Associates owned approximately 0.23% of Reinsurance Group of America worth $32,699,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Reinsurance Group of America by 8.9% during the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Reinsurance Group of America by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd raised its holdings in shares of Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 63 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Reinsurance Group of America by 5.7% during the third quarter. First Citizens Bank & Trust Co. now owns 1,401 shares of the insurance provider’s stock valued at $305,000 after buying an additional 75 shares during the last quarter. Finally, Fiduciary Family Office LLC increased its holdings in Reinsurance Group of America by 3.1% during the second quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after buying an additional 76 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Down 0.3 %

RGA stock opened at $212.67 on Thursday. The firm has a 50 day moving average of $215.19 and a 200 day moving average of $207.94. The stock has a market capitalization of $13.99 billion, a PE ratio of 16.52 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. Reinsurance Group of America, Incorporated has a 52 week low of $144.74 and a 52 week high of $227.87.

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

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.67%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Jefferies Financial Group raised their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays reduced their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.62.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America 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.