Vaughan Nelson Investment Management L.P. Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Vaughan Nelson Investment Management L.P. cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 34.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 95,612 shares of the insurance provider’s stock after selling 49,615 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Reinsurance Group of America were worth $20,831,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Natixis Advisors LLC grew its position in shares of Reinsurance Group of America by 31.1% in the third quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider’s stock valued at $42,201,000 after purchasing an additional 45,924 shares in the last quarter. Empowered Funds LLC bought a new stake in Reinsurance Group of America during the third quarter valued at $4,912,000. CIBC Asset Management Inc boosted its stake in Reinsurance Group of America by 5.5% during the third quarter. CIBC Asset Management Inc now owns 2,348 shares of the insurance provider’s stock valued at $512,000 after buying an additional 123 shares during the period. KBC Group NV boosted its stake in Reinsurance Group of America by 14.7% during the third quarter. KBC Group NV now owns 1,705 shares of the insurance provider’s stock valued at $371,000 after buying an additional 219 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in Reinsurance Group of America during the third quarter valued at $242,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $231.95 on Monday. The firm has a market cap of $15.28 billion, a P/E ratio of 21.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The business’s 50 day moving average price is $217.33 and its 200-day moving average price is $211.81. Reinsurance Group of America, Incorporated has a fifty-two week low of $157.21 and a fifty-two week high of $233.14.

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 company had revenue of $5.65 billion during 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 firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.57 EPS. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 in the company, valued at $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RGA. Raymond James lifted 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 note on Tuesday, September 24th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley dropped their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada lifted their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, TD Cowen assumed coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $227.38.

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.