The Manufacturers Life Insurance Company Sells 21,087 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

The Manufacturers Life Insurance Company reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,820 shares of the insurance provider’s stock after selling 21,087 shares during the period. The Manufacturers Life Insurance Company’s holdings in Reinsurance Group of America were worth $27,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America in the third quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America during the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new position in Reinsurance Group of America during the 1st quarter worth approximately $33,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter worth approximately $34,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley dropped their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Raymond James raised their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Price Performance

Shares of RGA opened at $228.45 on Friday. The stock has a market cap of $15.05 billion, a P/E ratio of 20.98 and a beta of 0.92. The business’s fifty day moving average is $220.25 and its 200 day moving average is $213.68. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a 12-month low of $157.48 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company earned $5.57 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

About Reinsurance Group of America

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.