Commerce Bank Sells 367 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Commerce Bank lessened its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.0% during the third quarter, Holdings Channel reports. The fund owned 3,733 shares of the insurance provider’s stock after selling 367 shares during the period. Commerce Bank’s holdings in Reinsurance Group of America were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new position in shares of Reinsurance Group of America in the third quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth about $28,000. Family Firm Inc. acquired a new position in Reinsurance Group of America in the 2nd quarter valued at about $29,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America in the 1st quarter valued at about $28,000. Finally, Wolff Wiese Magana LLC acquired a new stake in Reinsurance Group of America during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Barclays increased their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Raymond James raised 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 report on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Three investment 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 stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.77.

Reinsurance Group of America Stock Up 0.3 %

NYSE RGA opened at $231.43 on Tuesday. Reinsurance Group of America, Incorporated has a fifty-two week low of $157.48 and a fifty-two week high of $233.81. The business has a fifty day moving average price of $219.35 and a two-hundred day moving average price of $213.14. 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 stock has a market capitalization of $15.24 billion, a PE ratio of 21.25 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates 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 revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.57 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share 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. Investors 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 dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Insider Buying and Selling

In related 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 transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by corporate insiders.

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.