Massachusetts Financial Services Co. MA Trims Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,428,630 shares of the insurance provider’s stock after selling 649 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Reinsurance Group of America were worth $158,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC boosted its position in shares of Reinsurance Group of America by 0.8% in the 2nd quarter. ProShare Advisors LLC now owns 10,957 shares of the insurance provider’s stock worth $1,249,000 after purchasing an additional 88 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Reinsurance Group of America by 1.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 5,242 shares of the insurance provider’s stock worth $598,000 after purchasing an additional 89 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Reinsurance Group of America by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,460 shares of the insurance provider’s stock worth $719,000 after purchasing an additional 120 shares in the last quarter. Connable Office Inc. boosted its position in shares of Reinsurance Group of America by 6.0% in the 3rd quarter. Connable Office Inc. now owns 2,648 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 151 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its position in shares of Reinsurance Group of America by 104.4% in the 3rd quarter. Berman Capital Advisors LLC now owns 325 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.

Shares of RGA stock opened at $118.88 on Friday. The stock has a market cap of $8.04 billion, a PE ratio of 13.71 and a beta of 1.26. The business has a 50-day simple moving average of $107.49 and a 200-day simple moving average of $112.66. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.25. Reinsurance Group of America, Incorporated has a 52-week low of $94.32 and a 52-week high of $134.93.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, November 4th. The insurance provider reported ($1.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.46 by ($3.57). Reinsurance Group of America had a net margin of 3.61% and a return on equity of 1.49%. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the firm earned $3.51 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 2.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Tuesday, November 16th were paid a $0.73 dividend. The ex-dividend date was Monday, November 15th. This represents a $2.92 annualized dividend and a dividend yield of 2.46%. Reinsurance Group of America’s dividend payout ratio is presently 33.68%.

In related news, CEO Alka Gautam sold 858 shares of Reinsurance Group of America stock in a transaction dated Tuesday, December 28th. The stock was sold at an average price of $110.05, for a total value of $94,422.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is owned by insiders.

A number of brokerages have commented on RGA. JPMorgan Chase & Co. lowered their price target on Reinsurance Group of America from $141.00 to $131.00 in a research report on Tuesday, January 4th. Morgan Stanley lowered their price target on Reinsurance Group of America from $128.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, November 18th. TheStreet cut Reinsurance Group of America from a “b-” rating to a “c+” rating in a research report on Friday, December 10th. Royal Bank of Canada lowered their price target on Reinsurance Group of America from $129.00 to $123.00 and set a “sector perform” rating for the company in a research report on Monday, November 8th. Finally, The Goldman Sachs Group began coverage on Reinsurance Group of America in a research report on Thursday, December 2nd. They set a “buy” rating and a $134.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $126.22.

Reinsurance Group of America Profile

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America; Canada; Europe, Middle East, and Africa; Asia Pacific; and Corporate and Other.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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