Intech Investment Management LLC Trims Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Intech Investment Management LLC cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 35.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,469 shares of the insurance provider’s stock after selling 7,808 shares during the period. Intech Investment Management LLC’s holdings in Reinsurance Group of America were worth $3,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the 3rd quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America in the 1st quarter valued at about $28,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America during the 2nd quarter valued at approximately $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America during the 2nd quarter worth approximately $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $33,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $230.70 on Friday. 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 stock has a market cap of $15.19 billion, a PE ratio of 21.18 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.14. The stock has a fifty day moving average price of $219.09 and a 200 day moving average price of $212.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion during 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%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.57 EPS. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.54%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’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 value of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RGA shares. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.77.

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.