Swiss National Bank Sells 4,900 Shares of Reinsurance Group of America Inc (NYSE:RGA)

Swiss National Bank reduced its stake in shares of Reinsurance Group of America Inc (NYSE:RGA) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,800 shares of the insurance provider’s stock after selling 4,900 shares during the quarter. Swiss National Bank owned about 0.33% of Reinsurance Group of America worth $31,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GYL Financial Synergies LLC bought a new stake in Reinsurance Group of America during the first quarter worth approximately $249,000. Bessemer Group Inc. increased its stake in Reinsurance Group of America by 63.7% during the second quarter. Bessemer Group Inc. now owns 17,359 shares of the insurance provider’s stock worth $2,709,000 after acquiring an additional 6,755 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Reinsurance Group of America by 9.4% during the first quarter. Crossmark Global Holdings Inc. now owns 6,866 shares of the insurance provider’s stock valued at $975,000 after buying an additional 590 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Reinsurance Group of America by 16.4% during the first quarter. California Public Employees Retirement System now owns 438,625 shares of the insurance provider’s stock valued at $62,276,000 after buying an additional 61,667 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Reinsurance Group of America by 31.9% during the first quarter. Toronto Dominion Bank now owns 11,305 shares of the insurance provider’s stock valued at $1,605,000 after buying an additional 2,731 shares during the last quarter. 92.25% of the stock is currently owned by institutional investors.

Shares of NYSE RGA opened at $149.10 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 12.30 and a beta of 0.67. The stock has a 50 day moving average price of $154.44 and a 200 day moving average price of $149.28. Reinsurance Group of America Inc has a 52-week low of $127.84 and a 52-week high of $163.46.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $3.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.06). The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Reinsurance Group of America had a net margin of 5.85% and a return on equity of 9.19%. During the same quarter in the previous year, the firm posted $3.10 EPS. Analysts forecast that Reinsurance Group of America Inc will post 13.03 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 8th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. Reinsurance Group of America’s payout ratio is 23.10%.

A number of research analysts have recently commented on the company. ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada set a $170.00 target price on Reinsurance Group of America and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on Reinsurance Group of America from $142.00 to $144.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $156.00.

In related news, EVP John P. Laughlin, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $156.81, for a total value of $470,430.00. Following the completion of the sale, the executive vice president now owns 35,097 shares in the company, valued at $5,503,560.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arnoud W.A. Boot sold 800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.12, for a total value of $116,096.00. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Reinsurance Group of America Company 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.

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

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