Reinsurance Group of America, Incorporated $RGA Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 138.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,334 shares of the insurance provider’s stock after buying an additional 8,901 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Reinsurance Group of America were worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Balance Wealth Partners LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth about $30,000. Reyes Financial Architecture Inc. acquired a new stake in shares of Reinsurance Group of America during the third quarter worth $38,000. Whipplewood Advisors LLC lifted its stake in shares of Reinsurance Group of America by 4,400.0% during the first quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock worth $46,000 after buying an additional 220 shares during the period. Millstone Evans Group LLC grew its holdings in shares of Reinsurance Group of America by 77.0% during the first quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock valued at $49,000 after buying an additional 104 shares during the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Reinsurance Group of America during the second quarter valued at $53,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE:RGA traded down $0.35 during trading hours on Friday, reaching $261.61. The company had a trading volume of 729,046 shares, compared to its average volume of 458,073. Reinsurance Group of America, Incorporated has a 1-year low of $182.73 and a 1-year high of $272.44. The firm has a market cap of $17.08 billion, a PE ratio of 10.11 and a beta of 0.43. The business’s 50 day moving average price is $255.16 and its 200-day moving average price is $226.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, November 5th. The insurance provider reported $8.49 EPS for the quarter, topping analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter last year, the company earned $6.37 EPS. Research analysts forecast that Reinsurance Group of America, Incorporated will post 29.78 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.92 dividend on an annualized basis and a yield of 1.5%. Reinsurance Group of America’s dividend payout ratio is presently 17.22%.

Reinsurance Group of America News Summary

Here are the key news stories impacting Reinsurance Group of America this week:

• Positive Sentiment: RGA earned $8.49 per share, topping consensus estimates of about $6.97 and rising from $6.37 a year earlier. Revenue of $7.55 billion also exceeded estimates of $6.69 billion. Article: Reinsurance Group Tops Q3 Earnings and Revenue Estimates
• Neutral Sentiment: The company declared a $0.98 dividend, providing income for shareholders; the announcement did not specify a change to the payout. Article: Reinsurance Group of America Declares $0.98 Dividend

Analyst Ratings Changes

A number of brokerages recently issued reports on RGA. Wells Fargo & Company raised their target price on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price target on the stock in a research note on Monday, September 28th. TD Cowen raised their price objective on Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, October 21st. Barclays set a $292.00 price objective on Reinsurance Group of America in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $273.75.

Insiders Place Their Bets

In other news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.