Panagora Asset Management Inc. Sells 11,247 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Panagora Asset Management cut its stake in Reinsurance Group of America by 9.8% in the fourth quarter, selling 11,247 shares and ending with 104,052 shares valued at about $21.17 million.
• Analysts remain broadly positive on RGA, with seven Buy ratings, three Holds and one Sell; the consensus rating is “Moderate Buy” and the average target price is $251.25.
• RGA reported strong quarterly results, posting EPS of $6.97 versus estimates of $6.03 and revenue of $6.49 billion, while also paying a quarterly dividend of $0.93 per share.

Panagora Asset Management Inc. lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,052 shares of the insurance provider's stock after selling 11,247 shares during the quarter. Panagora Asset Management Inc. owned about 0.16% of Reinsurance Group of America worth $21,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. MML Investors Services LLC raised its stake in shares of Reinsurance Group of America by 4.3% in the fourth quarter. MML Investors Services LLC now owns 30,515 shares of the insurance provider's stock worth $6,209,000 after buying an additional 1,245 shares during the period. Mariner LLC raised its stake in shares of Reinsurance Group of America by 141.7% in the fourth quarter. Mariner LLC now owns 47,527 shares of the insurance provider's stock worth $9,676,000 after buying an additional 27,860 shares during the period. Focus Partners Wealth raised its stake in shares of Reinsurance Group of America by 276.1% in the fourth quarter. Focus Partners Wealth now owns 7,901 shares of the insurance provider's stock worth $1,608,000 after buying an additional 5,800 shares during the period. FJ Capital Management LLC raised its stake in shares of Reinsurance Group of America by 4.0% in the fourth quarter. FJ Capital Management LLC now owns 23,361 shares of the insurance provider's stock worth $4,753,000 after buying an additional 895 shares during the period. Finally, Fieldview Capital Management LLC bought a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $493,000. Institutional investors own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RGA. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wall Street Zen raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, UBS Group lifted their price objective on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Reinsurance Group of America has an average rating of "Moderate Buy" and an average target price of $251.25.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $210.27 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $229.21. The stock's 50 day simple moving average is $208.30 and its two-hundred day simple moving average is $205.90. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 11.39 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the previous year, the company posted $5.66 EPS. The company's revenue was up 23.5% compared to the same quarter last year. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.8%. Reinsurance Group of America's payout ratio is presently 20.15%.

Insider Buying and Selling

In other news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company's stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company's stock.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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