BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.62 Million Stake in Reinsurance Group of America Inc (RGA)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 54.4% during the second quarter, HoldingsChannel.com reports. The firm owned 27,140 shares of the insurance provider’s stock after selling 32,366 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Reinsurance Group of America were worth $3,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Reinsurance Group of America by 4.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,671 shares of the insurance provider’s stock worth $1,157,000 after purchasing an additional 385 shares during the period. Eagle Boston Investment Management Inc. grew its stake in Reinsurance Group of America by 19.2% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 2,439 shares of the insurance provider’s stock valued at $325,000 after acquiring an additional 393 shares during the period. US Bancorp DE grew its stake in Reinsurance Group of America by 2.7% in the 2nd quarter. US Bancorp DE now owns 15,050 shares of the insurance provider’s stock valued at $2,009,000 after acquiring an additional 393 shares during the period. State Treasurer State of Michigan grew its stake in Reinsurance Group of America by 1.7% in the 1st quarter. State Treasurer State of Michigan now owns 23,500 shares of the insurance provider’s stock valued at $3,619,000 after acquiring an additional 400 shares during the period. Finally, First Mercantile Trust Co. grew its stake in Reinsurance Group of America by 10.8% in the 2nd quarter. First Mercantile Trust Co. now owns 4,427 shares of the insurance provider’s stock valued at $591,000 after acquiring an additional 430 shares during the period. 91.87% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America stock opened at $141.59 on Friday. Reinsurance Group of America Inc has a 1 year low of $126.62 and a 1 year high of $165.12. The firm has a market capitalization of $9.09 billion, a P/E ratio of 13.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.12 and a current ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, July 26th. The insurance provider reported $3.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.04). Reinsurance Group of America had a net margin of 13.72% and a return on equity of 7.99%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the business posted $2.95 EPS. Reinsurance Group of America’s revenue was up 2.1% compared to the same quarter last year. analysts forecast that Reinsurance Group of America Inc will post 11.28 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Shareholders of record on Tuesday, August 7th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $2.40 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.50. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 22.14%.

A number of equities research analysts recently issued reports on RGA shares. Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Royal Bank of Canada reissued a “hold” rating and issued a $150.00 price target on shares of Reinsurance Group of America in a research note on Friday, July 27th. Wells Fargo & Co set a $165.00 price target on shares of Reinsurance Group of America and gave the company a “hold” rating in a research note on Thursday, June 7th. ValuEngine cut shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Credit Suisse Group dropped their price target on shares of Reinsurance Group of America from $164.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Reinsurance Group of America has a consensus rating of “Hold” and an average target price of $150.11.

In other news, Director John J. Gauthier acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were bought at an average price of $140.19 per share, for a total transaction of $140,190.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $280,380. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.47% of the company’s stock.

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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