Oppenheimer Asset Management Inc. Sells 980 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Oppenheimer Asset Management Inc. lessened its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,818 shares of the insurance provider’s stock after selling 980 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Reinsurance Group of America were worth $6,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. acquired a new position in shares of Reinsurance Group of America during the third quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America in the second quarter valued at about $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the second quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America during the first quarter worth about $28,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Reinsurance Group of America during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

RGA has been the topic of several research analyst reports. Raymond James boosted their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. TD Cowen assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective on the stock. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target 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. Finally, Morgan Stanley decreased their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.38.

Reinsurance Group of America Trading Down 0.3 %

Shares of Reinsurance Group of America stock opened at $229.61 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $156.98 and a fifty-two week high of $232.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $15.12 billion, a P/E ratio of 21.08 and a beta of 0.92. The firm has a 50-day simple moving average of $216.67 and a two-hundred day simple moving average of $211.22.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.57 earnings per share. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Company Profile

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.