The Manufacturers Life Insurance Company Has $27.85 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

The Manufacturers Life Insurance Company lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 14.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 127,820 shares of the insurance provider’s stock after selling 21,087 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.19% of Reinsurance Group of America worth $27,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RGA. Armstrong Advisory Group Inc. acquired a new stake in Reinsurance Group of America during the third quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in Reinsurance Group of America in the 2nd quarter valued at $29,000. LRI Investments LLC acquired a new position in Reinsurance Group of America in the 1st quarter valued at $33,000. Finally, Wolff Wiese Magana LLC bought a new position in Reinsurance Group of America during the 3rd quarter worth $34,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $228.45 on Friday. The business has a fifty day simple moving average of $220.25 and a 200 day simple moving average of $213.68. The company has a market cap of $15.05 billion, a P/E ratio of 20.98 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $5.57 EPS. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.56%. Reinsurance Group of America’s payout ratio is presently 32.69%.

Insider Transactions at Reinsurance Group of America

In other 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 transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays raised their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada boosted their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. 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 research report on Monday, August 19th. Finally, TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.77.

About Reinsurance Group of America

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.