M&T Bank Corp Decreases Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

M&T Bank Corp trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.3% in the third quarter, HoldingsChannel reports. The fund owned 8,399 shares of the insurance provider’s stock after selling 758 shares during the period. M&T Bank Corp’s holdings in Reinsurance Group of America were worth $1,830,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America in the 3rd quarter worth $25,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the second quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC purchased a new stake in Reinsurance Group of America during the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA grew its position in Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other 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 dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Reinsurance Group of America Price Performance

RGA opened at $212.27 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 19.49 and a beta of 0.93. The stock has a fifty day simple moving average of $220.22 and a two-hundred day simple moving average of $214.28. Reinsurance Group of America, Incorporated has a 12-month low of $157.48 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company posted $5.57 EPS. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. Research analysts predict that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Analyst Ratings Changes

Several analysts have weighed in on RGA shares. Barclays boosted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley lowered their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

Reinsurance Group of America 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.