Metropolitan Life Insurance Co NY reduced its stake in Reinsurance Group of America Inc (NYSE:RGA) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,509 shares of the insurance provider’s stock after selling 382 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Reinsurance Group of America were worth $2,799,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Next Capital Management LLC bought a new position in Reinsurance Group of America in the 2nd quarter worth about $28,000. Usca Ria LLC bought a new stake in Reinsurance Group of America during the 3rd quarter valued at about $28,000. First Interstate Bank purchased a new position in Reinsurance Group of America in the second quarter worth about $29,000. Motco purchased a new position in Reinsurance Group of America in the second quarter worth about $31,000. Finally, Valeo Financial Advisors LLC raised its holdings in Reinsurance Group of America by 50.0% in the third quarter. Valeo Financial Advisors LLC now owns 300 shares of the insurance provider’s stock worth $48,000 after buying an additional 100 shares during the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
RGA has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Reinsurance Group of America from $173.00 to $181.00 and gave the company a “buy” rating in a report on Friday, September 13th. Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 price target for the company in a research report on Friday, October 11th. Finally, UBS Group decreased their price objective on shares of Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $161.80.
RGA stock opened at $164.15 on Tuesday. The stock has a market capitalization of $10.36 billion, a P/E ratio of 13.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.12. Reinsurance Group of America Inc has a 1-year low of $129.17 and a 1-year high of $169.26. The business has a fifty day moving average price of $162.61 and a 200-day moving average price of $156.09.
Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $4.02 EPS for the quarter, beating the consensus estimate of $3.42 by $0.60. Reinsurance Group of America had a return on equity of 8.49% and a net margin of 5.40%. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm posted $4.03 earnings per share. Reinsurance Group of America’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that Reinsurance Group of America Inc will post 13.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, November 8th. This represents a $2.80 annualized dividend and a yield of 1.71%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.60. Reinsurance Group of America’s dividend payout ratio is currently 23.10%.
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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