Sumitomo Mitsui Asset Management Company LTD Decreases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Sumitomo Mitsui Asset Management Company LTD decreased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,634 shares of the insurance provider’s stock after selling 3,961 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Reinsurance Group of America, were worth $2,392,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RGA. Duncker Streett & Co. Inc. increased its position in Reinsurance Group of America, by 39.8% in the first quarter. Duncker Streett & Co. Inc. now owns 923 shares of the insurance provider’s stock valued at $117,000 after buying an additional 263 shares during the last quarter. Israel Discount Bank of New York purchased a new position in Reinsurance Group of America, during the first quarter valued at $125,000. Creative Planning increased its position in Reinsurance Group of America, by 3.2% in the first quarter. Creative Planning now owns 1,050 shares of the insurance provider’s stock valued at $133,000 after buying an additional 33 shares during the last quarter. James Investment Research Inc. purchased a new position in Reinsurance Group of America, during the first quarter valued at $143,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in Reinsurance Group of America, by 7.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,319 shares of the insurance provider’s stock valued at $167,000 after buying an additional 86 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) traded down 0.24% on Friday, reaching $138.49. The company’s stock had a trading volume of 304,588 shares. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 11.80 and a beta of 0.83. The company’s 50-day moving average is $133.58 and its 200 day moving average is $128.50. Reinsurance Group of America, Incorporated has a 12-month low of $100.52 and a 12-month high of $141.89.

Reinsurance Group of America, (NYSE:RGA) last issued its quarterly earnings data on Thursday, July 27th. The insurance provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.51. Reinsurance Group of America, had a return on equity of 8.48% and a net margin of 6.33%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post $10.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. This is an increase from Reinsurance Group of America,’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, August 4th. Reinsurance Group of America,’s dividend payout ratio is presently 17.02%.

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RGA has been the subject of several research reports. Zacks Investment Research upgraded Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $137.00 price target on shares of Reinsurance Group of America, in a research note on Thursday, August 3rd. Jefferies Group LLC cut their price target on Reinsurance Group of America, from $80.00 to $77.00 and set a “hold” rating for the company in a research note on Monday, May 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $127.00 price target on shares of Reinsurance Group of America, in a research note on Friday, April 28th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Reinsurance Group of America, in a research note on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Reinsurance Group of America, presently has a consensus rating of “Hold” and a consensus target price of $125.89.

In other Reinsurance Group of America, news, EVP Timothy T. Matson purchased 500 shares of Reinsurance Group of America, stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average cost of $127.39 per share, for a total transaction of $63,695.00. Following the completion of the acquisition, the executive vice president now owns 2,430 shares in the company, valued at approximately $309,557.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alain Neemeh sold 7,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $139.69, for a total value of $1,047,675.00. Following the completion of the sale, the executive vice president now owns 43,292 shares in the company, valued at $6,047,459.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,589 shares of company stock worth $1,761,582. Company insiders own 1.47% of the company’s stock.

Reinsurance Group of America, Company Profile

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

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

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