Exchange Traded Concepts LLC Sells 156 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Exchange Traded Concepts LLC trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Reinsurance Group of America by 25.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,900 shares of the insurance provider’s stock worth $4,333,000 after purchasing an additional 4,000 shares during the period. CWM LLC lifted its position in Reinsurance Group of America by 65.1% in the third quarter. CWM LLC now owns 2,244 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 885 shares during the period. Atomi Financial Group Inc. bought a new position in Reinsurance Group of America in the third quarter worth $235,000. Insight Wealth Strategies LLC bought a new position in Reinsurance Group of America in the third quarter worth $3,548,000. Finally, GAMMA Investing LLC lifted its position in Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after purchasing an additional 50 shares during the period. 95.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Citigroup increased their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $226.62.

Insider Activity

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

Reinsurance Group of America Stock Down 1.0 %

NYSE:RGA opened at $216.82 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $144.74 and a 12-month high of $227.87. 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 firm has a market capitalization of $14.28 billion, a P/E ratio of 16.87 and a beta of 0.91. The stock’s fifty day simple moving average is $214.55 and its 200-day simple moving average is $207.41.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. 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 business earned $4.40 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. Equities research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.89 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. Reinsurance Group of America’s payout ratio is 27.70%.

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.