Paloma Partners Management Co cut its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 62.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,934 shares of the insurance provider’s stock after selling 8,212 shares during the period. Paloma Partners Management Co’s holdings in Reinsurance Group of America were worth $692,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake in shares of Reinsurance Group of America by 13,803.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,536,741 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 3,511,304 shares in the last quarter. Riverview Trust Co purchased a new stake in Reinsurance Group of America in the fourth quarter valued at $32,000. FTB Advisors Inc. lifted its position in Reinsurance Group of America by 43.4% in the fourth quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 99 shares during the last quarter. JOYN Advisors Inc. lifted its position in Reinsurance Group of America by 68.9% in the fourth quarter. JOYN Advisors Inc. now owns 434 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 177 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in Reinsurance Group of America by 16.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 652 shares of the insurance provider’s stock valued at $91,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 92.58% of the company’s stock.
RGA has been the subject of a number of research reports. Zacks Investment Research raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $162.00 price target for the company in a research report on Wednesday, April 3rd. UBS Group boosted their price target on shares of 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 lowered shares of 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 given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $145.43.
Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Monday, January 28th. The insurance provider reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.08. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Reinsurance Group of America had a net margin of 5.56% and a return on equity of 9.11%. Reinsurance Group of America’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share. Equities analysts expect that Reinsurance Group of America Inc will post 13.22 EPS for the current fiscal year.
Reinsurance Group of America declared that its Board of Directors has authorized a stock buyback program on Monday, January 28th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Alan C. Henderson sold 947 shares of the firm’s stock in a transaction on Wednesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $2,742,675. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Todd C. Larson sold 4,836 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 32,079 shares of the company’s stock, valued at $4,631,886.81. The disclosure for this sale can be found here. Insiders sold 11,533 shares of company stock valued at $1,662,897 in the last three months. Company insiders own 0.69% of the company’s stock.
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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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