Massachusetts Financial Services Co. MA Sells 22,576 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Massachusetts Financial Services Co. MA lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 141,342 shares of the insurance provider’s stock after selling 22,576 shares during the period. Massachusetts Financial Services Co. MA owned 0.21% of Reinsurance Group of America worth $30,794,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after buying an additional 50 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Reinsurance Group of America by 1.2% in the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after buying an additional 53 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after buying an additional 62 shares in the last quarter. Baron Wealth Management LLC lifted its position in shares of Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after buying an additional 64 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in shares of Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after buying an additional 69 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RGA shares. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Raymond James upped their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley decreased their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Reinsurance Group of America Trading Up 0.3 %

RGA opened at $231.43 on Tuesday. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. The stock’s 50 day moving average price is $219.35 and its 200-day moving average price is $213.14. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.57 earnings per share. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.