Metropolitan Life Insurance Co. NY Trims Stake in Reinsurance Group of America Inc (RGA)

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Metropolitan Life Insurance Co. NY trimmed its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,972 shares of the insurance provider’s stock after selling 196 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Reinsurance Group of America were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RGA. Oregon Public Employees Retirement Fund lifted its holdings in Reinsurance Group of America by 13,803.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,536,741 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 3,511,304 shares during the last quarter. Riverview Trust Co acquired a new stake in Reinsurance Group of America in the 4th quarter worth approximately $32,000. FTB Advisors Inc. lifted its holdings in Reinsurance Group of America by 43.4% in the 4th quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 99 shares during the last quarter. JOYN Advisors Inc. lifted its holdings in Reinsurance Group of America by 68.9% in the 4th quarter. JOYN Advisors Inc. now owns 434 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 177 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in Reinsurance Group of America by 16.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 652 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

In other news, Director Alan C. Henderson sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $145.00, for a total transaction of $174,000.00. Following the completion of the transaction, the director now directly owns 17,715 shares in the company, valued at $2,568,675. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John P. Laughlin, Jr. sold 2,753 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $143.19, for a total value of $394,202.07. Following the transaction, the executive vice president now owns 31,922 shares of the company’s stock, valued at $4,570,911.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,533 shares of company stock valued at $1,662,897. Corporate insiders own 0.69% of the company’s stock.

Several research firms recently weighed in on RGA. Zacks Investment Research upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a report on Wednesday, March 13th. ValuEngine lowered Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Reinsurance Group of America presently has an average rating of “Hold” and an average price target of $144.83.

RGA opened at $141.80 on Friday. Reinsurance Group of America Inc has a twelve month low of $127.84 and a twelve month high of $159.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $8.91 billion, a P/E ratio of 11.70 and a beta of 0.67.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Monday, January 28th. The insurance provider reported $3.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.08. Reinsurance Group of America had a return on equity of 9.11% and a net margin of 5.56%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates 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. Equities analysts expect that Reinsurance Group of America Inc will post 13.13 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 7th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.69%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 19.80%.

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About Reinsurance Group of America

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

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