BNP Paribas Financial Markets Cuts Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

BNP Paribas Financial Markets lowered its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 28.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,914 shares of the insurance provider’s stock after selling 22,070 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.08% of Reinsurance Group of America worth $12,182,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the second quarter valued at $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at about $29,000. Wolff Wiese Magana LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth about $34,000. Finally, Private Trust Co. NA raised its position in shares of Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 0.5 %

Shares of NYSE RGA opened at $228.40 on Monday. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The company has a market capitalization of $15.04 billion, a P/E ratio of 20.97 and a beta of 0.92. The company has a 50 day simple moving average of $220.25 and a 200-day simple moving average of $213.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its 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. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the firm earned $5.57 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RGA shares. Raymond James lifted their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective 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. 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, Barclays raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’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 transaction, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by 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.