Securian Asset Management Inc Sells 128 Shares of Reinsurance Group of America Inc (RGA)

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Securian Asset Management Inc lessened its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,667 shares of the insurance provider’s stock after selling 128 shares during the period. Securian Asset Management Inc’s holdings in Reinsurance Group of America were worth $1,075,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its position in Reinsurance Group of America by 0.4% in the 3rd quarter. BlackRock Inc. now owns 5,947,506 shares of the insurance provider’s stock valued at $859,771,000 after buying an additional 20,957 shares during the period. Alliancebernstein L.P. lifted its position in shares of Reinsurance Group of America by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,501,467 shares of the insurance provider’s stock worth $217,052,000 after purchasing an additional 8,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Reinsurance Group of America by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,192,431 shares of the insurance provider’s stock worth $172,370,000 after purchasing an additional 60,948 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Reinsurance Group of America by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,045,892 shares of the insurance provider’s stock worth $151,194,000 after purchasing an additional 10,563 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Reinsurance Group of America by 33.5% during 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 during the last quarter. 98.16% of the stock is owned by institutional investors.

Reinsurance Group of America stock opened at $141.75 on Tuesday. The firm has a market cap of $8.93 billion, a PE ratio of 11.70 and a beta of 0.68. Reinsurance Group of America Inc has a 12-month low of $127.84 and a 12-month high of $163.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Monday, January 28th. The insurance provider reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.08. Reinsurance Group of America had a net margin of 5.56% and a return on equity of 9.11%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company earned $2.60 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Reinsurance Group of America Inc will post 13.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $2.40 annualized dividend and a yield of 1.69%. Reinsurance Group of America’s dividend payout ratio is currently 19.80%.

Reinsurance Group of America declared that its board has approved a share repurchase plan on Monday, January 28th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

RGA has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research report on Tuesday, December 11th. Morgan Stanley lifted their price objective on shares of Reinsurance Group of America from $131.00 to $134.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 13th. ValuEngine raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Reinsurance Group of America currently has a consensus rating of “Hold” and an average target price of $148.14.

In other Reinsurance Group of America news, EVP Timothy T. Matson acquired 200 shares of the company’s stock in a transaction on Wednesday, December 12th. The shares were bought at an average cost of $137.57 per share, for a total transaction of $27,514.00. Following the completion of the purchase, the executive vice president now owns 4,130 shares in the company, valued at approximately $568,164.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Anna Manning sold 4,034 shares of Reinsurance Group of America stock in a transaction on Friday, November 30th. The shares were sold at an average price of $148.23, for a total transaction of $597,959.82. Following the completion of the transaction, the president now owns 20,667 shares in the company, valued at $3,063,469.41. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 400 shares of company stock worth $53,620 and have sold 8,787 shares worth $1,288,422. 0.69% of the stock is owned by company insiders.

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Reinsurance Group of America 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.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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