Sumitomo Mitsui Trust Holdings Inc. Decreases Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,953 shares of the insurance provider’s stock after selling 698 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reinsurance Group of America were worth $3,265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RGA. EverSource Wealth Advisors LLC purchased a new stake in Reinsurance Group of America during the second quarter worth $35,000. FinTrust Capital Advisors LLC purchased a new stake in Reinsurance Group of America during the third quarter worth $37,000. Parkside Financial Bank & Trust boosted its position in Reinsurance Group of America by 47.8% during the first quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 119 shares in the last quarter. Covestor Ltd boosted its position in Reinsurance Group of America by 57.6% during the first quarter. Covestor Ltd now owns 829 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 303 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Reinsurance Group of America by 161.6% during the second quarter. Exchange Traded Concepts LLC now owns 803 shares of the insurance provider’s stock worth $94,000 after purchasing an additional 496 shares in the last quarter. 96.46% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $145.56 on Friday. The firm has a market capitalization of $9.73 billion, a P/E ratio of 17.17 and a beta of 0.89. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $141.15 and a 200 day moving average price of $130.93. Reinsurance Group of America, Incorporated has a 52 week low of $97.61 and a 52 week high of $148.75.

Reinsurance Group of America (NYSE:RGAGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The insurance provider reported $5.20 EPS for the quarter, topping the consensus estimate of $2.94 by $2.26. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4 billion. Reinsurance Group of America had a return on equity of 9.22% and a net margin of 3.54%. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 15.08 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th were paid a $0.80 dividend. The ex-dividend date was Monday, November 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.20%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analyst Weigh In

RGA has been the topic of several recent research reports. Barclays upped their price objective on Reinsurance Group of America from $138.00 to $148.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 8th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Citigroup upped their price objective on Reinsurance Group of America from $112.00 to $116.00 in a research report on Wednesday, November 16th. Credit Suisse Group upped their price objective on Reinsurance Group of America to $144.00 in a research report on Thursday, October 27th. Finally, Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $145.00 to $170.00 in a research report on Tuesday, December 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.10.

About Reinsurance Group of America

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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

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