Reinsurance Group of America, Incorporated $RGA Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,490 shares of the insurance provider’s stock after selling 10,273 shares during the quarter. ProShare Advisors LLC owned about 0.18% of Reinsurance Group of America worth $28,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RGA. SEB Asset Management AB acquired a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $81,533,000. Bank of New York Mellon Corp acquired a new stake in Reinsurance Group of America in the second quarter worth approximately $82,836,000. Lazard Asset Management LLC lifted its position in Reinsurance Group of America by 2,626.6% in the first quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock worth $39,973,000 after purchasing an additional 188,613 shares during the period. Wedge Capital Management L L P NC lifted its position in Reinsurance Group of America by 965.2% in the second quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock worth $38,158,000 after purchasing an additional 162,594 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Reinsurance Group of America during the 3rd quarter valued at $30,927,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RGA shares. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Barclays set a $292.00 price target on shares of Reinsurance Group of America in a research report on Thursday, October 8th. Finally, TD Cowen upped their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Buy” and an average target price of $270.00.

Insider Activity at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of Reinsurance Group of America stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Price Performance

NYSE RGA opened at $264.35 on Monday. The stock has a market capitalization of $17.26 billion, a P/E ratio of 11.61 and a beta of 0.43. Reinsurance Group of America, Incorporated has a 1 year low of $178.21 and a 1 year high of $272.44. The business’s fifty day moving average is $253.25 and its two-hundred day moving average is $224.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data 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. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company posted $4.72 EPS. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current fiscal year.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.