Reinsurance Group of America Inc (RGA) Shares Sold by MML Investors Services LLC
MML Investors Services LLC reduced its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 51.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,778 shares of the insurance provider’s stock after selling 2,924 shares during the quarter. MML Investors Services LLC’s holdings in Reinsurance Group of America were worth $402,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Reinsurance Group of America in the 2nd quarter worth about $2,325,000. Swiss National Bank boosted its holdings in shares of Reinsurance Group of America by 3.3% in the 2nd quarter. Swiss National Bank now owns 213,100 shares of the insurance provider’s stock worth $28,445,000 after purchasing an additional 6,900 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth about $211,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Reinsurance Group of America by 33.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 989,410 shares of the insurance provider’s stock worth $143,029,000 after purchasing an additional 248,223 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Reinsurance Group of America by 15.9% in the 2nd quarter. Schroder Investment Management Group now owns 932,724 shares of the insurance provider’s stock worth $35,271,000 after purchasing an additional 128,283 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.
A number of equities analysts have recently issued reports on RGA shares. Zacks Investment Research upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a report on Thursday, October 4th. ValuEngine upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Credit Suisse Group cut their price objective on 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. Finally, Morgan Stanley upped their price objective on Reinsurance Group of America from $131.00 to $134.00 and gave the stock an “underweight” rating in a report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Reinsurance Group of America presently has an average rating of “Hold” and an average target price of $146.00.
RGA opened at $143.72 on Friday. Reinsurance Group of America Inc has a 12-month low of $127.84 and a 12-month high of $164.86. 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 stock has a market capitalization of $9.05 billion, a PE ratio of 12.71 and a beta of 0.73.
Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.74. Reinsurance Group of America had a return on equity of 8.26% and a net margin of 14.21%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. As a group, equities research analysts expect that Reinsurance Group of America Inc will post 12.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, November 5th. Reinsurance Group of America’s payout ratio is currently 22.14%.
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Reinsurance Group of America Company Profile
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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