Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Covestor Ltd

Covestor Ltd decreased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301 shares of the insurance provider’s stock after selling 84 shares during the period. Covestor Ltd’s holdings in Reinsurance Group of America were worth $65,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the second quarter worth approximately $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America during the second quarter worth approximately $29,000. Finally, LRI Investments LLC purchased a new position in Reinsurance Group of America during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RGA shares. JPMorgan Chase & Co. increased their price target on shares of 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. 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 note on Thursday, October 10th. Citigroup raised their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Raymond James raised their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $229.61 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $156.98 and a 12-month high of $232.70. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 21.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The firm’s fifty day moving average price is $216.67 and its 200 day moving average price is $211.22.

Reinsurance Group of America (NYSE:RGA) last released its quarterly 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.57 EPS. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal 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 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insiders Place Their Bets

In other Reinsurance Group of America 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 transaction 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 $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is owned by company insiders.

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.