Advisors Asset Management Inc. Purchases Shares of 1,947 Reinsurance Group of America, Incorporated $RGA

Key Points

• Advisors Asset Management Inc. acquired a stake of 1,947 shares in Reinsurance Group of America (NYSE:RGA), valued at approximately $383,000.
• The company recently increased its quarterly dividend from $0.89 to $0.93, yielding an annualized dividend of $3.72.
• Despite a missed earnings estimate in the latest quarter, RGA reported a 14.8% year-over-year revenue increase, totaling $5.60 billion.

Advisors Asset Management Inc. purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,947 shares of the insurance provider's stock, valued at approximately $383,000.

A number of other hedge funds also recently bought and sold shares of RGA. Deutsche Bank AG raised its position in Reinsurance Group of America by 106.2% in the 4th quarter. Deutsche Bank AG now owns 77,424 shares of the insurance provider's stock valued at $16,540,000 after purchasing an additional 39,876 shares in the last quarter. Focus Partners Wealth raised its position in Reinsurance Group of America by 17.7% in the 4th quarter. Focus Partners Wealth now owns 1,210 shares of the insurance provider's stock valued at $267,000 after purchasing an additional 182 shares in the last quarter. Gotham Asset Management LLC raised its position in Reinsurance Group of America by 190.1% in the 4th quarter. Gotham Asset Management LLC now owns 12,381 shares of the insurance provider's stock valued at $2,645,000 after purchasing an additional 8,113 shares in the last quarter. Jefferies Financial Group Inc. raised its position in Reinsurance Group of America by 54.2% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,250 shares of the insurance provider's stock valued at $1,122,000 after purchasing an additional 1,845 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Reinsurance Group of America by 283.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,600 shares of the insurance provider's stock valued at $983,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RGA shares. Wells Fargo & Company dropped their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley dropped their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

Reinsurance Group of America Trading Up 1.7%

NYSE:RGA opened at $194.85 on Friday. The stock's 50 day moving average price is $191.83 and its 200 day moving average price is $193.70. The company has a market capitalization of $12.88 billion, a PE ratio of 16.91 and a beta of 0.59. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter last year, the business posted $5.48 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

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

Reinsurance Group of America Company 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.

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, Incorporated (NYSE:RGA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.