Victory Capital Management Inc. Lowers Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Victory Capital Management Inc. reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 58.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,299 shares of the insurance provider’s stock after selling 97,558 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Reinsurance Group of America worth $15,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RGA. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 2,524 shares during the last quarter. Covestor Ltd grew its stake in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 63 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Reinsurance Group of America by 1.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,454 shares of the insurance provider’s stock valued at $9,919,000 after purchasing an additional 779 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $236,000. Finally, Keeley Teton Advisors LLC grew its stake in shares of Reinsurance Group of America by 7.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 20,980 shares of the insurance provider’s stock valued at $4,047,000 after purchasing an additional 1,434 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was 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 $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RGA shares. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Barclays decreased their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Raymond James lifted their price target on 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. Finally, Royal Bank of Canada lifted their price target 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. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Stock Down 1.9 %

RGA opened at $227.22 on Wednesday. The business’s fifty day moving average is $217.71 and its two-hundred day moving average is $212.25. 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 company has a market cap of $14.96 billion, a price-to-earnings ratio of 20.87 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $157.45 and a one year high of $233.14.

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

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.89 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.57%. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

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.