Reinsurance Group of America Inc (RGA) Holdings Reduced by Sumitomo Life Insurance Co.

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Sumitomo Life Insurance Co. reduced its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 8.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RGA. Oregon Public Employees Retirement Fund increased its position 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 buying an additional 3,511,304 shares during the period. Riverview Trust Co bought a new position in Reinsurance Group of America in the 4th quarter worth approximately $32,000. FTB Advisors Inc. increased its position 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 buying an additional 99 shares during the period. JOYN Advisors Inc. increased its position 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 buying an additional 177 shares during the period. Finally, Rehmann Capital Advisory Group increased its position 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 buying an additional 91 shares during the period. 92.52% of the stock is currently owned by institutional investors.

RGA opened at $150.61 on Wednesday. The company has a market cap of $9.30 billion, a PE ratio of 12.43 and a beta of 0.67. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.33. Reinsurance Group of America Inc has a 1 year low of $127.84 and a 1 year high of $159.95.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Monday, January 28th. The insurance provider reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.08. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Reinsurance Group of America had a return on equity of 9.11% and a net margin of 5.56%. Reinsurance Group of America’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.60 earnings per share. As a group, research analysts predict that Reinsurance Group of America Inc will post 13.22 earnings per share for the current year.

Reinsurance Group of America declared that its board has approved a share repurchase program on Monday, January 28th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Several brokerages have commented on RGA. 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 report on Tuesday, April 9th. Zacks Investment Research raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Finally, ValuEngine downgraded Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $145.43.

In other news, CFO Todd C. Larson sold 4,836 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $144.39, for a total transaction of $698,270.04. Following the sale, the chief financial officer now directly owns 32,079 shares in the company, valued at $4,631,886.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John W. Hayden sold 1,797 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $144.19, for a total value of $259,109.43. Following the sale, the senior vice president now owns 10,733 shares in the company, valued at $1,547,591.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,533 shares of company stock worth $1,662,897. 0.69% of the stock is currently owned by company insiders.

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Reinsurance Group of America Company Profile

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.

See Also: How Does the Quiet Period Work?

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America Inc (NYSE:RGA).

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

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