Douglas Lane & Associates LLC Cuts Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Douglas Lane & Associates LLC trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 505,873 shares of the insurance provider’s stock after selling 20,943 shares during the period. Reinsurance Group of America comprises 1.5% of Douglas Lane & Associates LLC’s holdings, making the stock its 14th largest position. Douglas Lane & Associates LLC’s holdings in Reinsurance Group of America were worth $124,566,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Tobam boosted its holdings in shares of Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 115 shares during the period. Whipplewood Advisors LLC lifted its holdings in Reinsurance Group of America by 4,400.0% in the first quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock valued at $46,000 after buying an additional 220 shares during the period. Millstone Evans Group LLC raised its holdings in shares of Reinsurance Group of America by 77.0% during the first quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 104 shares during the period. Wick Capital Partners LLC acquired a new stake in shares of Reinsurance Group of America in the 4th quarter worth about $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $53,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. TD Cowen boosted their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Barclays set a $292.00 price objective on Reinsurance Group of America in a report on Thursday. Finally, UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.78.

Reinsurance Group of America Trading Down 0.3%

RGA traded down $0.70 during trading hours on Friday, reaching $255.23. 142,084 shares of the company’s stock traded hands, compared to its average volume of 367,637. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $16.67 billion, a PE ratio of 11.20 and a beta of 0.45. The firm has a 50-day moving average price of $246.58 and a 200 day moving average price of $225.53. Reinsurance Group of America, Incorporated has a 52-week low of $178.21 and a 52-week high of $258.53.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the company earned $4.72 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 29.71 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.98 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America’s payout ratio is presently 17.22%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.