Capital Asset Advisory Services LLC Sells 76 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Capital Asset Advisory Services LLC cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,271 shares of the insurance provider’s stock after selling 76 shares during the period. Capital Asset Advisory Services LLC’s holdings in Reinsurance Group of America were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in Reinsurance Group of America by 13.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,394 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 392 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Reinsurance Group of America by 40.8% during the first quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 111 shares during the last quarter. Benson Investment Management Company Inc. bought a new position in shares of Reinsurance Group of America during the first quarter valued at about $4,886,000. Paragon Capital Management Ltd bought a new position in shares of Reinsurance Group of America during the first quarter valued at about $225,000. Finally, Wedmont Private Capital raised its stake in shares of Reinsurance Group of America by 8.1% during the first quarter. Wedmont Private Capital now owns 1,859 shares of the insurance provider’s stock valued at $352,000 after acquiring an additional 140 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

RGA stock traded down $0.84 on Friday, hitting $205.27. The company had a trading volume of 515,261 shares, compared to its average volume of 352,582. Reinsurance Group of America, Incorporated has a 12-month low of $135.07 and a 12-month high of $213.21. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $203.58 and its 200 day simple moving average is $184.79. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 15.95 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the company posted $5.16 earnings per share. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 20.94 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 26.42%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 in the company, valued at $3,410,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RGA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. UBS Group upped their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Jefferies Financial Group upped their price objective on shares of Reinsurance Group of America from $240.00 to $247.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $220.00.

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.