Maryland State Retirement & Pension System Sells 245 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Maryland State Retirement & Pension System lessened its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,507 shares of the insurance provider’s stock after selling 245 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Reinsurance Group of America were worth $749,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Xponance Inc. raised its position in shares of Reinsurance Group of America by 7.0% during the 4th quarter. Xponance Inc. now owns 7,840 shares of the insurance provider’s stock valued at $1,675,000 after buying an additional 516 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Reinsurance Group of America by 9.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 32,241 shares of the insurance provider’s stock worth $6,888,000 after buying an additional 2,729 shares during the period. Avalon Trust Co purchased a new stake in Reinsurance Group of America during the 4th quarter valued at $99,000. Natixis Advisors LLC raised its stake in shares of Reinsurance Group of America by 4.5% during the fourth quarter. Natixis Advisors LLC now owns 202,349 shares of the insurance provider’s stock valued at $43,228,000 after acquiring an additional 8,651 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd grew its stake in shares of Reinsurance Group of America by 126.4% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 4,075 shares of the insurance provider’s stock worth $871,000 after purchasing an additional 2,275 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $198.54 on Tuesday. The firm’s 50 day moving average price is $206.73 and its 200-day moving average price is $213.86. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.11 billion, a PE ratio of 18.49 and a beta of 0.91. Reinsurance Group of America, Incorporated has a twelve month low of $178.84 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RGA. Barclays decreased their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Evercore ISI decreased their price target on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.85.

Reinsurance Group of America Company 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.