Metropolitan Life Insurance Co NY Trims Stake in Reinsurance Group of America Inc (NYSE:RGA)

Metropolitan Life Insurance Co NY lowered its position in Reinsurance Group of America Inc (NYSE:RGA) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 17,509 shares of the insurance provider’s stock after selling 382 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Reinsurance Group of America were worth $2,799,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. D. E. Shaw & Co. Inc. raised its holdings in shares of Reinsurance Group of America by 12.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 5,547 shares of the insurance provider’s stock worth $865,000 after buying an additional 615 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in Reinsurance Group of America by 81.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 63,972 shares of the insurance provider’s stock valued at $10,228,000 after acquiring an additional 28,700 shares during the period. MainStreet Investment Advisors LLC grew its position in Reinsurance Group of America by 1.8% in the 3rd quarter. MainStreet Investment Advisors LLC now owns 6,377 shares of the insurance provider’s stock valued at $1,019,000 after acquiring an additional 112 shares during the last quarter. First Interstate Bank bought a new position in Reinsurance Group of America in the 2nd quarter valued at $29,000. Finally, Bessemer Group Inc. grew its position in Reinsurance Group of America by 63.7% in the 2nd quarter. Bessemer Group Inc. now owns 17,359 shares of the insurance provider’s stock valued at $2,709,000 after acquiring an additional 6,755 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Shares of NYSE:RGA opened at $164.15 on Tuesday. The firm has a market cap of $10.36 billion, a PE ratio of 13.54 and a beta of 0.65. The firm’s 50 day simple moving average is $162.61 and its 200-day simple moving average is $156.09. Reinsurance Group of America Inc has a one year low of $129.17 and a one year high of $169.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.12 and a current ratio of 0.12.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.70 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 23.10%.

Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 target price for the company in a research report on Friday, October 11th. UBS Group lowered their target price on shares of Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Citigroup upped their price target on shares of Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $161.80.

In related news, EVP William L. Hutton sold 4,200 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $161.41, for a total value of $677,922.00. Following the completion of the sale, the executive vice president now directly owns 22,713 shares of the company’s stock, valued at $3,666,105.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William L. Hutton sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $160.00, for a total transaction of $240,000.00. Following the transaction, the executive vice president now owns 14,739 shares in the company, valued at $2,358,240. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock worth $2,761,581 over the last 90 days. 0.78% of the stock is currently owned by company insiders.

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.

See Also: Debt-To-Equity Ratio

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

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