Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,368 shares of the insurance provider’s stock after selling 206 shares during the quarter. Pitcairn Co.’s holdings in Reinsurance Group of America were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America during the third quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America during the first quarter worth approximately $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $229.46 on Thursday. The company’s fifty day moving average is $219.86 and its two-hundred day moving average is $213.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $15.11 billion, a P/E ratio of 21.07 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.81.

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

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insiders Place Their Bets

In other 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 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 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGA. Raymond James increased their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley decreased their target price on shares of 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. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada upped their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. 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 on the stock. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

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.