Reinsurance Group of America, Incorporated $RGA Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Reinsurance Group of America by 75.3%, purchasing an additional 7,480 shares, which brings its total holdings to 17,410 shares valued at approximately $3.43 million.
• The company has recently reported a quarterly dividend increase to $0.93 per share, up from $0.89, representing a dividend yield of 2.0% and a payout ratio of 32.29%.
• Despite a revenue increase of 14.8% year-over-year, Reinsurance Group of America reported earnings per share (EPS) of $4.72 for the quarter, falling short of analysts' expectations at $5.58.

Algert Global LLC grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 75.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,410 shares of the insurance provider's stock after acquiring an additional 7,480 shares during the period. Algert Global LLC's holdings in Reinsurance Group of America were worth $3,428,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RGA. Cordatus Wealth Management LLC raised its position in shares of Reinsurance Group of America by 3.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock worth $331,000 after purchasing an additional 50 shares during the last quarter. Journey Strategic Wealth LLC raised its holdings in Reinsurance Group of America by 4.9% in the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock valued at $237,000 after acquiring an additional 56 shares during the last quarter. Colonial Trust Co SC raised its holdings in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Reinsurance Group of America by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock valued at $2,649,000 after buying an additional 60 shares during the period. Finally, Trust Point Inc. grew its stake in shares of Reinsurance Group of America by 5.4% in the 1st quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock valued at $240,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 1.3%

Shares of RGA traded down $2.4490 during midday trading on Monday, reaching $191.1310. The stock had a trading volume of 215,121 shares, compared to its average volume of 547,345. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company's fifty day simple moving average is $192.66 and its two-hundred day simple moving average is $194.07. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 16.59 and a beta of 0.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

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 the consensus estimate of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business earned $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% compared to the same quarter last year. Equities research 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.93 per share. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 annualized dividend and a yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is 32.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RGA shares. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their price target on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Keefe, Bruyette & Woods increased 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. Morgan Stanley dropped 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 research note on Monday, August 18th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $242.27.

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.