Meritage Portfolio Management decreased its stake in shares of Reinsurance Group of America Inc (NYSE:RGA) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,442 shares of the insurance provider’s stock after selling 1,459 shares during the quarter. Reinsurance Group of America comprises about 0.9% of Meritage Portfolio Management’s portfolio, making the stock its 20th largest holding. Meritage Portfolio Management owned approximately 0.09% of Reinsurance Group of America worth $9,269,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of RGA. IHT Wealth Management LLC lifted its position in Reinsurance Group of America by 225.8% during the second quarter. IHT Wealth Management LLC now owns 202 shares of the insurance provider’s stock valued at $309,000 after purchasing an additional 140 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Reinsurance Group of America by 11.7% in the second quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 83 shares during the period. Fieldpoint Private Securities LLC purchased a new position in Reinsurance Group of America in the 3rd quarter worth about $113,000. D.A. Davidson & CO. increased its stake in Reinsurance Group of America by 27.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,157 shares of the insurance provider’s stock worth $148,000 after buying an additional 248 shares during the period. Finally, Foster & Motley Inc. purchased a new position in Reinsurance Group of America in the 4th quarter worth about $207,000. Hedge funds and other institutional investors own 91.75% of the company’s stock.
In other news, Director Alan C. Henderson sold 556 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $148.84, for a total value of $82,755.04. Following the sale, the director now directly owns 19,862 shares in the company, valued at approximately $2,956,260.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John P. Laughlin, Jr. sold 500 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $155.60, for a total transaction of $77,800.00. Following the completion of the sale, the executive vice president now owns 26,777 shares in the company, valued at $4,166,501.20. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
RGA has been the topic of several recent analyst reports. Goldman Sachs Group initiated coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price target on the stock. Wells Fargo & Co reaffirmed a “hold” rating and issued a $131.00 price target on shares of Reinsurance Group of America in a research note on Thursday, October 26th. Royal Bank of Canada set a $145.00 price target on shares of Reinsurance Group of America and gave the stock a “hold” rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $148.00 price target on shares of Reinsurance Group of America in a research note on Friday, November 10th. Finally, Citigroup set a $171.00 target price on shares of Reinsurance Group of America and gave the company a “buy” rating in a research report on Tuesday, November 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Reinsurance Group of America has a consensus rating of “Hold” and an average price target of $150.43.
Reinsurance Group of America Inc (NYSE:RGA) traded up $0.45 during midday trading on Tuesday, reaching $148.87. 38,739 shares of the company’s stock were exchanged, compared to its average volume of 346,026. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. The stock has a market cap of $9,575.63, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. Reinsurance Group of America Inc has a 1-year low of $121.93 and a 1-year high of $165.12.
Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Monday, January 29th. The insurance provider reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.24). The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Reinsurance Group of America had a net margin of 14.56% and a return on equity of 8.62%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.92 EPS. equities research analysts expect that Reinsurance Group of America Inc will post 12.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, February 7th. Reinsurance Group of America’s dividend payout ratio (DPR) is 7.22%.
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About Reinsurance Group of America
Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.
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