Reinsurance Group of America Inc (RGA) Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank boosted its holdings in shares of Reinsurance Group of America Inc (NYSE:RGA) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,305 shares of the insurance provider’s stock after acquiring an additional 2,731 shares during the quarter. Toronto Dominion Bank’s holdings in Reinsurance Group of America were worth $1,605,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Strs Ohio raised its stake in shares of Reinsurance Group of America by 2,614.7% during the fourth quarter. Strs Ohio now owns 138,314 shares of the insurance provider’s stock worth $19,395,000 after buying an additional 133,219 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Reinsurance Group of America by 25.2% during the fourth quarter. IFM Investors Pty Ltd now owns 3,115 shares of the insurance provider’s stock valued at $437,000 after purchasing an additional 627 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Reinsurance Group of America by 5.5% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 37,810 shares of the insurance provider’s stock valued at $5,302,000 after purchasing an additional 1,983 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Reinsurance Group of America by 67.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,249 shares of the insurance provider’s stock valued at $6,205,000 after purchasing an additional 17,760 shares during the period. Finally, Private Capital Group LLC grew its holdings in Reinsurance Group of America by 45.2% during the fourth quarter. Private Capital Group LLC now owns 1,069 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

A number of research analysts recently issued reports on RGA shares. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, UBS Group boosted their price objective on shares of Reinsurance Group of America from $142.00 to $148.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $145.43.

In other news, Director Alan C. Henderson sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $145.00, for a total value of $174,000.00. Following the completion of the transaction, the director now owns 17,715 shares in the company, valued at $2,568,675. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alain Neemeh sold 3,668 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $148.00, for a total transaction of $542,864.00. Following the completion of the transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at approximately $5,548,816. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

NYSE RGA traded up $1.62 during trading on Friday, reaching $150.79. 131,494 shares of the stock traded hands, compared to its average volume of 312,791. The stock has a market cap of $9.43 billion, a P/E ratio of 12.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.12 and a current ratio of 0.12. Reinsurance Group of America Inc has a fifty-two week low of $127.84 and a fifty-two week high of $154.10.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.02). The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.34 billion. Reinsurance Group of America had a net margin of 5.98% and a return on equity of 9.64%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Analysts predict that Reinsurance Group of America Inc will post 13.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, May 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 19.80%.

Reinsurance Group of America declared that its board has authorized a stock buyback plan on Monday, January 28th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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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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