Fulton Bank N.A. Sells 82 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Fulton Bank N.A. cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,149 shares of the insurance provider’s stock after selling 82 shares during the quarter. Fulton Bank N.A.’s holdings in Reinsurance Group of America were worth $441,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Reinsurance Group of America by 16,078.1% during the 4th quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after acquiring an additional 22,027 shares during the last quarter. Tobam raised its stake in Reinsurance Group of America by 53.9% during the 4th quarter. Tobam now owns 3,063 shares of the insurance provider’s stock valued at $496,000 after purchasing an additional 1,073 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Graphene Investments SAS acquired a new stake in Reinsurance Group of America in the 4th quarter worth $3,122,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Reinsurance Group of America by 2.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 55,160 shares of the insurance provider’s stock valued at $8,924,000 after buying an additional 1,225 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.5 %

Shares of Reinsurance Group of America stock traded up $0.97 during trading hours on Wednesday, hitting $198.45. The company’s stock had a trading volume of 303,491 shares, compared to its average volume of 378,126. Reinsurance Group of America, Incorporated has a 12 month low of $135.07 and a 12 month high of $227.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $13.06 billion, a PE ratio of 15.34 and a beta of 0.92. The stock has a 50 day moving average of $209.25 and a 200 day moving average of $194.16.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm posted $4.40 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. Analysts predict that Reinsurance Group of America, Incorporated will post 21.24 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Analyst Upgrades and Downgrades

RGA has been the topic of several research reports. Citigroup boosted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Raymond James lifted their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a report on Friday, June 14th. UBS Group upped their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada boosted their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $217.64.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.37% of the company’s stock.

About Reinsurance Group of America

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.