Sit Investment Associates Inc. Sells 27,760 Shares of Reinsurance Group of America Inc (NYSE:RGA)

Sit Investment Associates Inc. decreased its position in shares of Reinsurance Group of America Inc (NYSE:RGA) by 30.3% during the 1st quarter, Holdings Channel reports. The fund owned 63,740 shares of the insurance provider’s stock after selling 27,760 shares during the quarter. Sit Investment Associates Inc.’s holdings in Reinsurance Group of America were worth $9,050,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Magnus Financial Group LLC increased its holdings in Reinsurance Group of America by 3.4% during the first quarter. Magnus Financial Group LLC now owns 2,626 shares of the insurance provider’s stock worth $373,000 after buying an additional 87 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Reinsurance Group of America by 16.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 652 shares of the insurance provider’s stock valued at $91,000 after acquiring an additional 91 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Reinsurance Group of America by 7.8% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,274 shares of the insurance provider’s stock worth $178,000 after purchasing an additional 92 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in Reinsurance Group of America by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,451 shares of the insurance provider’s stock worth $764,000 after purchasing an additional 99 shares during the period. Finally, FTB Advisors Inc. lifted its position in Reinsurance Group of America by 43.4% during the fourth quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 99 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. UBS Group increased their target price on shares of Reinsurance Group of America from $142.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $142.17.

In related news, EVP Alain Neemeh sold 3,668 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $148.00, for a total value of $542,864.00. Following the completion of the sale, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $5,548,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.78% of the company’s stock.

Shares of RGA traded up $0.10 during trading hours on Friday, reaching $151.87. The stock had a trading volume of 21,939 shares, compared to its average volume of 249,169. Reinsurance Group of America Inc has a 12 month low of $127.84 and a 12 month high of $153.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The stock has a market cap of $9.49 billion, a P/E ratio of 12.53 and a beta of 0.66.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Monday, April 29th. The insurance provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Reinsurance Group of America had a return on equity of 9.64% and a net margin of 5.98%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America Inc will post 13.22 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, May 8th. Reinsurance Group of America’s payout ratio is currently 19.80%.

ILLEGAL ACTIVITY WARNING: “Sit Investment Associates Inc. Sells 27,760 Shares of Reinsurance Group of America Inc (NYSE:RGA)” was first published by Riverton Roll and is owned by of Riverton Roll. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://rivertonroll.com/news/2019/06/14/sit-investment-associates-inc-sells-27760-shares-of-reinsurance-group-of-america-inc-nyserga.html.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

See Also: How to invest in a bear market

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America Inc (NYSE:RGA).

Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

Receive News & Ratings for Reinsurance Group of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America and related companies with MarketBeat.com's FREE daily email newsletter.