Trading Report: Today, State of Wisconsin Investment Board decreases its position in Reinsurance Group of America Inc. (RGA)

Today, State of Wisconsin Investment Board decreases its position in Reinsurance Group of America Inc. (RGA)

State of Wisconsin Investment Board reduced its stake in shares of Reinsurance Group of America Inc. (NYSE:RGA) by 1.9% during the third quarter, Holdings Channel reports. The firm owned 40,899 shares of the company’s stock after selling 800 shares during the period. State of Wisconsin Investment Board owned 0.06% of Reinsurance Group of America worth $4,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Reinsurance Group of America by 1.9% in the second quarter. Vanguard Group Inc. now owns 4,856,889 shares of the company’s stock valued at $471,070,000 after buying an additional 92,335 shares during the period. BlackRock Fund Advisors raised its position in Reinsurance Group of America by 2.6% in the second quarter. BlackRock Fund Advisors now owns 2,205,993 shares of the company’s stock valued at $213,959,000 after buying an additional 56,492 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Reinsurance Group of America by 9.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,116,398 shares of the company’s stock valued at $205,269,000 after buying an additional 189,034 shares during the period. State Street Corp raised its position in Reinsurance Group of America by 1.8% in the second quarter. State Street Corp now owns 1,852,648 shares of the company’s stock valued at $179,694,000 after buying an additional 32,230 shares during the period. Finally, Boston Partners raised its position in Reinsurance Group of America by 11.3% in the second quarter. Boston Partners now owns 1,839,895 shares of the company’s stock valued at $178,451,000 after buying an additional 186,278 shares during the period. 92.55% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Inc. (NYSE:RGA) traded up 0.51% during mid-day trading on Friday, hitting $122.53. 277,660 shares of the company’s stock were exchanged. The stock has a market capitalization of $7.87 billion, a P/E ratio of 11.86 and a beta of 0.93. The firm has a 50 day moving average of $112.56 and a 200 day moving average of $103.29. Reinsurance Group of America Inc. has a 52 week low of $76.96 and a 52 week high of $122.97.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Wednesday, October 26th. The company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The firm earned $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Reinsurance Group of America had a net margin of 5.98% and a return on equity of 9.14%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. Equities analysts forecast that Reinsurance Group of America Inc. will post $9.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 8th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, November 4th. Reinsurance Group of America’s payout ratio is currently 15.86%.

Several research analysts have recently commented on RGA shares. Wells Fargo & Co. started coverage on shares of Reinsurance Group of America in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Deutsche Bank AG lowered shares of Reinsurance Group of America from a “buy” rating to a “hold” rating and lifted their price target for the company from $108.00 to $112.00 in a report on Wednesday, October 19th. Zacks Investment Research raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday, August 31st. JPMorgan Chase & Co. lowered shares of Reinsurance Group of America from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $105.00 to $108.00 in a report on Tuesday, October 4th. Finally, Credit Suisse Group AG started coverage on shares of Reinsurance Group of America in a report on Friday, October 7th. They issued a “neutral” rating and a $115.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Reinsurance Group of America currently has a consensus rating of “Hold” and an average target price of $106.88.

In other news, EVP Alain Neemeh sold 5,705 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $107.66, for a total value of $614,200.30. Following the completion of the transaction, the executive vice president now owns 40,829 shares in the company, valued at approximately $4,395,650.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John W. Hayden sold 1,988 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $105.42, for a total transaction of $209,574.96. Following the completion of the transaction, the senior vice president now owns 8,074 shares of the company’s stock, valued at approximately $851,161.08. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional and non-traditional life and health reinsurance. The Company has geographic-based or function-based segments, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other.

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