Reinsurance Group of America, Incorporated $RGA Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.0% in the 3rd quarter, Holdings Channel reports. The firm owned 117,490 shares of the insurance provider’s stock after selling 10,273 shares during the period. ProShare Advisors LLC’s holdings in Reinsurance Group of America were worth $28,931,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its holdings in Reinsurance Group of America by 3.0% during the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after purchasing an additional 82,681 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Reinsurance Group of America by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after buying an additional 15,372 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Reinsurance Group of America by 1.0% in the first quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock worth $170,960,000 after buying an additional 8,221 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Reinsurance Group of America by 5.1% in the first quarter. First Trust Advisors LP now owns 479,000 shares of the insurance provider’s stock worth $97,793,000 after buying an additional 23,105 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Reinsurance Group of America by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 417,970 shares of the insurance provider’s stock worth $85,333,000 after buying an additional 2,493 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.1%

RGA opened at $264.35 on Monday. Reinsurance Group of America, Incorporated has a 1-year low of $178.21 and a 1-year high of $272.44. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 11.61 and a beta of 0.43. The business has a 50 day moving average of $253.25 and a 200-day moving average of $224.63.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the firm posted $4.72 earnings per share. Reinsurance Group of America’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current year.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price on the stock in a research note on Monday, September 28th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. TD Cowen raised their price target on Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $270.00.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.