November 10, 2019 at 9:15 pm

Public Employees Retirement Association of Colorado Acquires 16,133 Shares of Reinsurance Group of America Inc (NYSE:RGA)

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Public Employees Retirement Association of Colorado increased its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 2.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 769,574 shares of the insurance provider’s stock after purchasing an additional 16,133 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Reinsurance Group of America were worth $123,039,000 as of its most recent SEC filing.

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A number of other large investors have also modified their holdings of RGA. Nuance Investments LLC raised its stake in Reinsurance Group of America by 70.3% in the second quarter. Nuance Investments LLC now owns 1,028,265 shares of the insurance provider’s stock worth $160,440,000 after buying an additional 424,469 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Reinsurance Group of America by 17,390.2% in the second quarter. Nuveen Asset Management LLC now owns 294,360 shares of the insurance provider’s stock worth $45,928,000 after buying an additional 292,677 shares in the last quarter. Boston Partners raised its stake in Reinsurance Group of America by 10.3% in the second quarter. Boston Partners now owns 2,004,036 shares of the insurance provider’s stock worth $312,711,000 after buying an additional 187,441 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Reinsurance Group of America by 158.5% in the second quarter. JPMorgan Chase & Co. now owns 222,322 shares of the insurance provider’s stock worth $34,358,000 after buying an additional 136,306 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Reinsurance Group of America by 1,372.1% in the second quarter. Bank of Montreal Can now owns 144,696 shares of the insurance provider’s stock worth $22,577,000 after buying an additional 134,867 shares in the last quarter. 91.42% of the stock is owned by institutional investors.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 price target on the stock in a research report on Friday, October 11th. Citigroup upped their price target on Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada set a $170.00 price target on Reinsurance Group of America and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on Reinsurance Group of America from $144.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Finally, ValuEngine downgraded Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $162.20.

Shares of RGA stock traded up $0.33 during trading hours on Friday, reaching $167.95. 151,162 shares of the company’s stock were exchanged, compared to its average volume of 301,284. The stock’s 50 day moving average is $158.78 and its 200-day moving average is $154.23. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 13.86 and a beta of 0.65. The company has a current ratio of 0.12, a quick ratio of 0.13 and a debt-to-equity ratio of 0.29. Reinsurance Group of America Inc has a fifty-two week low of $129.17 and a fifty-two week high of $169.26.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.60. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.45 billion. Reinsurance Group of America had a return on equity of 8.49% and a net margin of 5.40%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.03 earnings per share. Equities analysts anticipate that Reinsurance Group of America Inc will post 13.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 8th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. Reinsurance Group of America’s payout ratio is 23.10%.

In other news, Director Arnoud W.A. Boot sold 800 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.12, for a total transaction of $116,096.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William L. Hutton sold 4,200 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $161.41, for a total transaction of $677,922.00. Following the sale, the executive vice president now directly owns 22,713 shares in the company, valued at $3,666,105.33. The disclosure for this sale can be found here. Insiders have sold 10,573 shares of company stock worth $1,698,001 over the last three months. Corporate insiders own 0.78% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America Inc (NYSE:RGA).

Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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