TD Asset Management Inc. Increases Holdings in Reinsurance Group of America Inc (NYSE:RGA)

TD Asset Management Inc. raised its stake in shares of Reinsurance Group of America Inc (NYSE:RGA) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 291,086 shares of the insurance provider’s stock after buying an additional 3,451 shares during the period. TD Asset Management Inc. owned about 0.47% of Reinsurance Group of America worth $45,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Reinsurance Group of America by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 655,744 shares of the insurance provider’s stock valued at $91,897,000 after acquiring an additional 26,397 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Reinsurance Group of America by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 6,768 shares of the insurance provider’s stock valued at $960,000 after purchasing an additional 104 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Reinsurance Group of America by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 142,204 shares of the insurance provider’s stock valued at $20,190,000 after purchasing an additional 367 shares during the last quarter. Sciencast Management LP purchased a new stake in Reinsurance Group of America during the 1st quarter valued at $615,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in Reinsurance Group of America by 24.2% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 7,256 shares of the insurance provider’s stock valued at $1,030,000 after purchasing an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.

In other news, EVP John P. Laughlin, Jr. sold 3,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $156.81, for a total transaction of $470,430.00. Following the transaction, the executive vice president now directly owns 35,097 shares of the company’s stock, valued at approximately $5,503,560.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is owned by corporate insiders.

Several analysts have commented on the company. Royal Bank of Canada set a $170.00 target price on Reinsurance Group of America and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Morgan Stanley increased their price target on Reinsurance Group of America from $142.00 to $144.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $153.60.

Shares of NYSE RGA traded up $0.22 during midday trading on Thursday, hitting $144.73. 1,829 shares of the stock traded hands, compared to its average volume of 317,278. The stock has a 50-day moving average price of $155.41. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 12.02 and a beta of 0.67. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. Reinsurance Group of America Inc has a one year low of $127.84 and a one year high of $163.46.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Monday, July 29th. The insurance provider reported $3.31 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.06). The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reinsurance Group of America had a net margin of 5.85% and a return on equity of 9.19%. During the same period in the previous year, the company earned $3.10 earnings per share. On average, equities analysts anticipate that Reinsurance Group of America Inc will post 13.03 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 7th. Reinsurance Group of America’s payout ratio is 23.10%.

Reinsurance Group of America 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.

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

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