Algert Global LLC Lowers Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Algert Global LLC decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 53.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,962 shares of the insurance provider’s stock after selling 4,570 shares during the quarter. Algert Global LLC’s holdings in Reinsurance Group of America were worth $863,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Armstrong Advisory Group Inc. purchased a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the second quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the second quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Reinsurance Group of America during the 1st quarter valued at $33,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at $34,000. Institutional investors own 95.11% of the company’s stock.

Insider Buying and Selling at Reinsurance Group of America

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 transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Three equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $228.45 on Friday. The company’s 50-day moving average price is $220.25 and its 200-day moving average price is $213.68. 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 company has a market cap of $15.05 billion, a PE ratio of 20.98 and a beta of 0.92. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data 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. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.57 earnings per share. On average, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio 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.