Bank of New York Mellon Corp Decreases Holdings in Reinsurance Group of America, Incorporated $RGA

Bank of New York Mellon Corp lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.7% in the second quarter, Holdings Channel reports. The firm owned 600,209 shares of the insurance provider’s stock after selling 36,098 shares during the period. Bank of New York Mellon Corp’s holdings in Reinsurance Group of America were worth $119,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 5.0% during the 2nd quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider’s stock worth $521,343,000 after buying an additional 125,937 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Reinsurance Group of America by 67.9% in the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider’s stock worth $297,699,000 after acquiring an additional 611,226 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Reinsurance Group of America by 3.2% during the first quarter. Alliancebernstein L.P. now owns 1,158,803 shares of the insurance provider’s stock worth $228,168,000 after purchasing an additional 35,781 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Reinsurance Group of America by 17.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 928,998 shares of the insurance provider’s stock valued at $182,909,000 after purchasing an additional 137,620 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Reinsurance Group of America by 2.6% in the 1st quarter. Northern Trust Corp now owns 716,782 shares of the insurance provider’s stock valued at $141,134,000 after purchasing an additional 18,182 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $190.39 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $190.86 and a 200 day moving average price of $194.06. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The stock has a market cap of $12.58 billion, a P/E ratio of 16.53 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business posted $6.13 EPS. Reinsurance Group of America’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, November 10th. Reinsurance Group of America’s dividend payout ratio is presently 28.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RGA shares. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Raymond James Financial cut shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Wells Fargo & Company decreased their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods lowered their target price on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.