ProShare Advisors LLC Decreases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

ProShare Advisors LLC decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,103 shares of the insurance provider’s stock after selling 113 shares during the period. ProShare Advisors LLC’s holdings in Reinsurance Group of America were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America in the 1st quarter valued at $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the 2nd quarter valued at $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America in the 1st quarter valued at $29,000. Finally, Family Firm Inc. purchased a new position in Reinsurance Group of America in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Jefferies Financial Group raised their price objective on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Citigroup raised their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Morgan Stanley reduced their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $225.17.

Reinsurance Group of America Stock Down 1.4 %

Shares of NYSE:RGA opened at $215.61 on Monday. The business has a 50-day moving average price of $213.38 and a 200 day moving average price of $204.76. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 16.75 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12-month low of $140.39 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $4.40 EPS. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

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 stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

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.