2,050 Shares in Reinsurance Group of America, Incorporated (NYSE:RGA) Bought by Cheviot Value Management LLC

Key Points

• Cheviot Value Management LLC purchased 2,050 shares of Reinsurance Group of America (NYSE:RGA), valued at approximately $402,000, in the first quarter.
• The company announced a quarterly dividend increase from $0.89 to $0.93 per share, representing a yield of 2.1% and a dividend payout ratio of 30.90%.
• Despite a reported earnings miss in their last quarter with EPS of $4.72 compared to expected $5.58, Reinsurance Group of America saw a 14.8% year-over-year revenue increase, totaling $5.60 billion.

Cheviot Value Management LLC bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,050 shares of the insurance provider's stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock worth $1,205,042,000 after purchasing an additional 564,693 shares during the period. GAMMA Investing LLC grew its position in Reinsurance Group of America by 54,931.6% during the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock worth $93,512,000 after purchasing an additional 474,060 shares during the period. Tidal Investments LLC grew its position in Reinsurance Group of America by 6,944.4% during the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock worth $60,963,000 after purchasing an additional 281,317 shares during the period. Invesco Ltd. grew its position in Reinsurance Group of America by 34.4% during the 4th quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider's stock worth $201,802,000 after purchasing an additional 241,669 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Reinsurance Group of America by 256.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 326,257 shares of the insurance provider's stock valued at $64,240,000 after acquiring an additional 234,780 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $177.38 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The company has a market capitalization of $11.72 billion, a PE ratio of 15.40 and a beta of 0.61. The company has a fifty day moving average of $197.24 and a two-hundred day moving average of $198.57.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its 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 12.82%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the previous year, the company posted $5.48 earnings per share. Reinsurance Group of America's quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.93 per share. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is currently 30.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company restated an "overweight" rating and set a $249.00 target price (up from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $244.36.

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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