Gamco Investors INC. ET AL Trims Stock Position in Reinsurance Group of America, Incorporated $RGA

Gamco Investors INC. ET AL cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 85.5% during the first quarter, HoldingsChannel reports. The fund owned 1,277 shares of the insurance provider’s stock after selling 7,507 shares during the period. Gamco Investors INC. ET AL’s holdings in Reinsurance Group of America were worth $261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. GC Wealth Management RIA LLC raised its position in Reinsurance Group of America by 7.9% in the first quarter. GC Wealth Management RIA LLC now owns 3,048 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 223 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Reinsurance Group of America by 2.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 29,287 shares of the insurance provider’s stock worth $5,979,000 after purchasing an additional 683 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Reinsurance Group of America by 44.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 335,734 shares of the insurance provider’s stock valued at $68,543,000 after buying an additional 102,698 shares during the period. Inceptionr LLC raised its holdings in Reinsurance Group of America by 203.1% in the 1st quarter. Inceptionr LLC now owns 5,874 shares of the insurance provider’s stock valued at $1,199,000 after buying an additional 3,936 shares during the period. Finally, Liberty One Investment Management LLC lifted its position in Reinsurance Group of America by 11.9% in the first quarter. Liberty One Investment Management LLC now owns 3,243 shares of the insurance provider’s stock valued at $662,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 2.2%

Shares of RGA opened at $237.35 on Thursday. The stock has a market capitalization of $15.55 billion, a PE ratio of 12.86 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $245.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The company’s 50-day simple moving average is $218.38 and its 200-day simple moving average is $211.67.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.66 earnings per share. Analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

Analyst Ratings Changes

Several research analysts have weighed in on RGA shares. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Barclays lifted their target price on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. TD Cowen boosted their target price on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.