Reinsurance Group of America Inc (RGA) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,654 shares of the insurance provider’s stock after selling 1,352 shares during the period. Sumitomo Life Insurance Co.’s holdings in Reinsurance Group of America were worth $2,081,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its stake in Reinsurance Group of America by 13,803.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,536,741 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 3,511,304 shares in the last quarter. Riverview Trust Co purchased a new position in Reinsurance Group of America in the 4th quarter worth about $32,000. FTB Advisors Inc. increased its stake in Reinsurance Group of America by 43.4% in the 4th quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 99 shares in the last quarter. JOYN Advisors Inc. increased its stake in Reinsurance Group of America by 68.9% in the 4th quarter. JOYN Advisors Inc. now owns 434 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 177 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Reinsurance Group of America by 16.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 652 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 91 shares in the last quarter. 92.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Reinsurance Group of America news, Director Alan C. Henderson sold 947 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $145.00, for a total transaction of $137,315.00. Following the completion of the sale, the director now directly owns 18,915 shares in the company, valued at approximately $2,742,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan C. Henderson sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $145.00, for a total value of $174,000.00. Following the sale, the director now owns 17,715 shares of the company’s stock, valued at $2,568,675. The disclosure for this sale can be found here. Insiders have sold a total of 11,533 shares of company stock valued at $1,662,897 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

RGA has been the topic of a number of analyst reports. Zacks Investment Research raised Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a research note on Wednesday, April 3rd. UBS Group lifted their price target on Reinsurance Group of America from $142.00 to $148.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Finally, ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Reinsurance Group of America currently has a consensus rating of “Hold” and a consensus target price of $145.43.

Shares of NYSE RGA opened at $150.61 on Wednesday. Reinsurance Group of America Inc has a one year low of $127.84 and a one year high of $159.95. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 12.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.13.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Monday, January 28th. The insurance provider reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.08. Reinsurance Group of America had a return on equity of 9.11% and a net margin of 5.56%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company posted $2.60 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts expect that Reinsurance Group of America Inc will post 13.22 EPS for the current year.

Reinsurance Group of America announced that its Board of Directors has approved a share buyback program on Monday, January 28th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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