Douglas Lane & Associates LLC Has $124.78 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

by · The Cerbat Gem

Douglas Lane & Associates LLC decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 572,713 shares of the insurance provider’s stock after selling 21,899 shares during the period. Reinsurance Group of America accounts for about 1.7% of Douglas Lane & Associates LLC’s portfolio, making the stock its 8th biggest holding. Douglas Lane & Associates LLC owned approximately 0.87% of Reinsurance Group of America worth $124,777,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Reinsurance Group of America by 8.9% in the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd lifted its stake in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 63 shares during the last quarter. Fiduciary Family Office LLC lifted its stake in shares of Reinsurance Group of America by 3.1% in the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after purchasing an additional 76 shares during the last quarter. Finally, Hilltop National Bank lifted its stake in shares of Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Up 1.1 %

Shares of NYSE:RGA traded up $2.27 on Friday, reaching $216.49. The company had a trading volume of 255,868 shares, compared to its average volume of 357,948. Reinsurance Group of America, Incorporated has a 52-week low of $143.96 and a 52-week high of $227.87. The firm’s 50 day simple moving average is $212.62 and its 200-day simple moving average is $206.66. The firm has a market capitalization of $14.24 billion, a PE ratio of 16.82 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $4.40 EPS. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 21.72 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.89 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.64%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RGA shares. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Raymond James increased their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Barclays reduced their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley reduced their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Get Our Latest Report on RGA

Reinsurance Group of America Profile

(Free Report)

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.

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