Daiwa Securities Group Inc. Boosts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Daiwa Securities Group Inc. boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 86.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the insurance provider’s stock after acquiring an additional 1,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Reinsurance Group of America were worth $610,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $33,000. Atria Investments Inc purchased a new position in shares of Reinsurance Group of America during the first quarter worth approximately $2,660,000. Cetera Investment Advisers increased its holdings in shares of Reinsurance Group of America by 123.2% in the 1st quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock valued at $3,103,000 after acquiring an additional 8,881 shares during the period. Cetera Advisors LLC raised its position in Reinsurance Group of America by 85.2% in the 1st quarter. Cetera Advisors LLC now owns 4,147 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 1,908 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Reinsurance Group of America by 5.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,089 shares of the insurance provider’s stock worth $1,171,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.5 %

Shares of RGA opened at $228.40 on Friday. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $15.04 billion, a P/E ratio of 20.97 and a beta of 0.92. The firm’s 50-day moving average is $220.25 and its two-hundred day moving average is $213.73.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $5.57 EPS. On average, research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. 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%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

RGA has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Keefe, Bruyette & Woods raised 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 report on Thursday, October 17th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James lifted their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Company Profile

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.