Fulton Bank N.A. Lowers Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Fulton Bank N.A. lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 have also modified their holdings of the company. Covestor Ltd raised its holdings in Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after buying an additional 63 shares during the period. Toth Financial Advisory Corp raised its stake in shares of 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 acquiring an additional 70 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 79 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the period. Finally, Private Advisor Group LLC raised its position in Reinsurance Group of America by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Activity

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 transaction of $365,503.95. Following the completion of the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RGA shares. Citigroup upped 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. 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. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company upped their target price on Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Finally, Evercore ISI lifted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.64.

Reinsurance Group of America Price Performance

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

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

Reinsurance Group of America Increases Dividend

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

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.