Reinsurance Group of America Inc (RGA) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its stake in Reinsurance Group of America Inc (NYSE:RGA) by 175.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,665 shares of the insurance provider’s stock after buying an additional 29,752 shares during the period. Rafferty Asset Management LLC’s holdings in Reinsurance Group of America were worth $6,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Reinsurance Group of America by 0.4% in the third quarter. BlackRock Inc. now owns 5,947,506 shares of the insurance provider’s stock valued at $859,771,000 after purchasing an additional 20,957 shares in the last quarter. Aviance Capital Partners LLC boosted its holdings in Reinsurance Group of America by 43.4% in the third quarter. Aviance Capital Partners LLC now owns 8,572 shares of the insurance provider’s stock valued at $1,239,000 after purchasing an additional 2,593 shares in the last quarter. Twin Tree Management LP acquired a new position in Reinsurance Group of America in the third quarter valued at approximately $243,000. Bank of New York Mellon Corp boosted its holdings in Reinsurance Group of America by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 1,045,892 shares of the insurance provider’s stock valued at $151,194,000 after purchasing an additional 10,563 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Reinsurance Group of America by 0.5% in the third quarter. Alliancebernstein L.P. now owns 1,501,467 shares of the insurance provider’s stock valued at $217,052,000 after purchasing an additional 8,180 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

A number of equities analysts recently issued reports on RGA shares. Zacks Investment Research raised Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a report on Thursday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $150.00 price target on shares of Reinsurance Group of America in a report on Friday, July 27th. Credit Suisse Group lowered their price target on Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, August 17th. Morgan Stanley upped their price target on Reinsurance Group of America from $131.00 to $134.00 and gave the company an “underweight” rating in a report on Tuesday, November 13th. Finally, ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Reinsurance Group of America currently has an average rating of “Hold” and a consensus price target of $146.00.

In other news, CFO Todd C. Larson sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $149.38, for a total value of $672,210.00. Following the completion of the sale, the chief financial officer now directly owns 31,743 shares of the company’s stock, valued at $4,741,769.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arnoud W.A. Boot sold 620 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $146.00, for a total value of $90,520.00. Following the completion of the sale, the director now directly owns 6,409 shares of the company’s stock, valued at $935,714. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by corporate insiders.

RGA stock opened at $146.10 on Friday. The company has a market capitalization of $9.16 billion, a PE ratio of 13.48 and a beta of 0.74. Reinsurance Group of America Inc has a twelve month low of $127.84 and a twelve month high of $165.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $4.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.29 by $0.74. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Reinsurance Group of America had a return on equity of 8.26% and a net margin of 14.21%. On average, sell-side analysts predict that Reinsurance Group of America Inc will post 12.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, November 5th. Reinsurance Group of America’s payout ratio is currently 22.14%.

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Reinsurance Group of America 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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