PNC Financial Services Group Inc. Sells 586 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

PNC Financial Services Group Inc. reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,246 shares of the insurance provider’s stock after selling 586 shares during the period. PNC Financial Services Group Inc.’s holdings in Reinsurance Group of America were worth $3,757,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RGA. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America in the third quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new stake in shares of Reinsurance Group of America in the 1st quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $34,000. 95.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGA. 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. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Raymond James increased their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm’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 directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by insiders.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $230.70 on Monday. The firm’s 50 day moving average price is $219.09 and its 200-day moving average price is $212.96. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $15.19 billion, a PE ratio of 21.18 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.57 EPS. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

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.