MUFG Securities EMEA plc Lowers Position in Reinsurance Group of America Inc (NYSE:RGA)
MUFG Securities EMEA plc decreased its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 56.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the insurance provider’s stock after selling 64,504 shares during the quarter. MUFG Securities EMEA plc’s holdings in Reinsurance Group of America were worth $7,802,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Next Capital Management LLC acquired a new stake in Reinsurance Group of America in the second quarter valued at approximately $28,000. First Interstate Bank acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at $29,000. Motco acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at $31,000. Icon Wealth Partners LLC purchased a new stake in Reinsurance Group of America in the 1st quarter worth $29,000. Finally, Advisory Services Network LLC increased its holdings in Reinsurance Group of America by 2,806.3% in the 2nd quarter. Advisory Services Network LLC now owns 465 shares of the insurance provider’s stock worth $73,000 after acquiring an additional 449 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Reinsurance Group of America stock traded up $0.66 during mid-day trading on Wednesday, reaching $158.80. 9,424 shares of the stock traded hands, compared to its average volume of 316,527. The stock has a market capitalization of $9.93 billion, a PE ratio of 13.10 and a beta of 0.67. The business has a 50-day moving average of $152.16 and a 200 day moving average of $150.19. Reinsurance Group of America Inc has a fifty-two week low of $127.84 and a fifty-two week high of $163.46. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32.
The company also recently disclosed a special dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 8th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 7th. Reinsurance Group of America’s dividend payout ratio is currently 23.10%.
RGA has been the topic of several recent analyst reports. ValuEngine downgraded shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Royal Bank of Canada set a $170.00 target price on shares of Reinsurance Group of America and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $142.00 to $144.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $156.00.
In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 800 shares of Reinsurance Group of America stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.12, for a total transaction of $116,096.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William L. Hutton sold 1,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $158.15, for a total transaction of $237,225.00. Following the sale, the executive vice president now directly owns 16,239 shares of the company’s stock, valued at approximately $2,568,197.85. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock worth $823,751 in the last 90 days. 0.78% of the stock is currently owned by insiders.
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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