Nuance Investments LLC Sells 189,487 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Nuance Investments LLC decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 43.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 249,053 shares of the insurance provider’s stock after selling 189,487 shares during the quarter. Reinsurance Group of America accounts for approximately 1.8% of Nuance Investments LLC’s investment portfolio, making the stock its 17th biggest holding. Nuance Investments LLC’s holdings in Reinsurance Group of America were worth $54,260,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RGA. Armstrong Advisory Group Inc. bought a new position in shares of Reinsurance Group of America in the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America in the 1st quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America in the 2nd quarter valued at $28,000. Family Firm Inc. bought a new position in Reinsurance Group of America during the 2nd quarter valued at $29,000. Finally, LRI Investments LLC purchased a new position in Reinsurance Group of America during the 1st quarter worth $33,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RGA. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, 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 note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $227.38.

Insider Activity

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

Reinsurance Group of America Stock Performance

NYSE RGA opened at $227.22 on Wednesday. The firm has a market cap of $14.97 billion, a P/E ratio of 20.87 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $218.07 and its 200-day moving average is $212.43. Reinsurance Group of America, Incorporated has a 12-month low of $157.45 and a 12-month high of $233.14.

Reinsurance Group of America (NYSE:RGA) last issued its 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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $5.57 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business 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 dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is presently 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.