Reinsurance Group of America, Incorporated $RGA Shares Purchased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Reinsurance Group of America by 3.2% during the first quarter, acquiring a total of 1,158,803 shares worth approximately $228 million.
• Reinsurance Group of America announced a quarterly dividend increase from $0.89 to $0.93 per share, representing an annualized dividend yield of 1.9%.
• Despite a recent earnings miss, with an EPS of $4.72 compared to analysts' expectations of $5.58, the company's revenue rose 14.8% year-over-year to $5.60 billion.

Alliancebernstein L.P. grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,158,803 shares of the insurance provider's stock after purchasing an additional 35,781 shares during the quarter. Alliancebernstein L.P. owned approximately 1.75% of Reinsurance Group of America worth $228,168,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Reinsurance Group of America by 67.9% in the 1st quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider's stock valued at $297,699,000 after purchasing an additional 611,226 shares in the last quarter. GAMMA Investing LLC raised its holdings in Reinsurance Group of America by 54,931.6% during the first quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock worth $93,512,000 after buying an additional 474,060 shares during the last quarter. Nuveen LLC bought a new stake in shares of Reinsurance Group of America in the 1st quarter worth $69,092,000. Tidal Investments LLC grew its stake in shares of Reinsurance Group of America by 6,944.4% in the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock worth $60,963,000 after acquiring an additional 281,317 shares in the last quarter. Finally, Bahl & Gaynor Inc. bought a new position in Reinsurance Group of America during the first quarter valued at about $55,375,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on RGA. JPMorgan Chase & Co. boosted their price objective 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. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and an average price target of $242.27.

Reinsurance Group of America Stock Performance

NYSE RGA traded down $4.56 during trading hours on Friday, reaching $193.03. The stock had a trading volume of 301,898 shares, compared to its average volume of 307,044. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The stock has a market cap of $12.76 billion, a P/E ratio of 16.76 and a beta of 0.59. The stock has a fifty day moving average of $192.27 and a 200 day moving average of $193.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

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

Reinsurance Group of America Increases Dividend

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

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.