Pendal Group Ltd Sells 19,338 Shares of Reinsurance Group of America Inc (RGA)

Pendal Group Ltd trimmed its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 61.1% in the third quarter, Holdings Channel reports. The fund owned 12,329 shares of the insurance provider’s stock after selling 19,338 shares during the period. Pendal Group Ltd’s holdings in Reinsurance Group of America were worth $1,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RGA. Robecosam AG bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $133,000. Iberiabank Corp bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $205,000. Hartford Investment Management Co. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $209,000. Fulton Bank N.A. bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $211,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $218,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

NYSE:RGA opened at $148.76 on Friday. Reinsurance Group of America Inc has a 52 week low of $127.84 and a 52 week high of $165.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $9.34 billion, a P/E ratio of 13.13 and a beta of 0.74.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 25th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.29 by $0.74. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Reinsurance Group of America had a net margin of 14.21% and a return on equity of 8.26%. Equities research analysts expect that Reinsurance Group of America Inc will post 12.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, November 5th. Reinsurance Group of America’s payout ratio is currently 22.14%.

RGA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Royal Bank of Canada reiterated a “hold” rating and set a $150.00 price target on shares of Reinsurance Group of America in a report on Friday, July 27th. ValuEngine upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, July 30th. Finally, Credit Suisse Group lowered their price target on shares of Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $148.75.

In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 620 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $146.00, for a total transaction of $90,520.00. Following the transaction, the director now directly owns 6,409 shares of the company’s stock, valued at approximately $935,714. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd C. Larson sold 4,500 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $149.38, for a total transaction of $672,210.00. Following the transaction, the chief financial officer now directly owns 31,743 shares in the company, valued at $4,741,769.34. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

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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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