1,352 Shares in Reinsurance Group of America, Incorporated $RGA Acquired by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC acquired 1,352 shares of Reinsurance Group of America, valued at approximately $268,000, during the second quarter.
• Reinsurance Group of America reported an EPS of $4.72, missing analysts' expectations, along with a net margin of 3.54% and revenue of $5.60 billion for the quarter.
• The company declared an increase in its quarterly dividend from $0.89 to $0.93, resulting in an annualized dividend of $3.72 and a yield of 1.9%.

DAVENPORT & Co LLC bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,352 shares of the insurance provider's stock, valued at approximately $268,000.

Several other hedge funds have also added to or reduced their stakes in the business. Alpine Bank Wealth Management bought a new position in Reinsurance Group of America during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its holdings in Reinsurance Group of America by 164.3% during the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after purchasing an additional 92 shares during the last quarter. TCTC Holdings LLC raised its holdings in Reinsurance Group of America by 107.2% during the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in Reinsurance Group of America by 357.1% during the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after purchasing an additional 175 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $194.40 on Tuesday. The firm has a market capitalization of $12.85 billion, a PE ratio of 16.88 and a beta of 0.60. The firm has a fifty day simple moving average of $191.07 and a two-hundred day simple moving average of $193.21. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the firm posted $5.48 EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.93 dividend. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America's payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RGA shares. Morgan Stanley lowered their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Barclays restated an "overweight" rating and set a $246.00 price target on shares of Reinsurance Group of America in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $241.56.

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.

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