First Republic Investment Management Inc. Has $465,000 Position in Reinsurance Group of America Inc (NYSE:RGA)

First Republic Investment Management Inc. lessened its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 30.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,982 shares of the insurance provider’s stock after selling 1,329 shares during the quarter. First Republic Investment Management Inc.’s holdings in Reinsurance Group of America were worth $465,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of Reinsurance Group of America by 3.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,007 shares of the insurance provider’s stock worth $313,000 after buying an additional 69 shares during the period. Magnus Financial Group LLC increased its stake in shares of Reinsurance Group of America by 3.4% in the 1st quarter. Magnus Financial Group LLC now owns 2,626 shares of the insurance provider’s stock valued at $373,000 after buying an additional 87 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Reinsurance Group of America by 2.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 5,584 shares of the insurance provider’s stock valued at $793,000 after buying an additional 133 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Reinsurance Group of America by 0.8% in the 1st quarter. Eagle Asset Management Inc. now owns 19,267 shares of the insurance provider’s stock valued at $2,735,000 after buying an additional 148 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Reinsurance Group of America by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,610 shares of the insurance provider’s stock valued at $1,812,000 after buying an additional 170 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP William L. Hutton sold 1,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $158.15, for a total value of $237,225.00. Following the sale, the executive vice president now directly owns 16,239 shares in the company, valued at $2,568,197.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arnoud W.A. Boot sold 800 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders have sold 5,300 shares of company stock worth $823,751. Corporate insiders own 0.78% of the company’s stock.

Several equities research analysts have recently commented on RGA shares. Morgan Stanley lifted 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. ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup lifted their price objective on Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada set a $170.00 price objective on Reinsurance Group of America and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $161.00.

Shares of Reinsurance Group of America stock traded up $0.41 during trading on Friday, reaching $159.61. 509,324 shares of the company were exchanged, compared to its average volume of 307,752. The business has a 50-day moving average price of $152.16 and a 200-day moving average price of $150.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 13.17 and a beta of 0.67. Reinsurance Group of America Inc has a twelve month low of $127.84 and a twelve month high of $163.46.

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

The firm also recently announced a special dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 7th. Reinsurance Group of America’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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