Alliancebernstein L.P. Purchases 35,781 Shares of Reinsurance Group of America, Incorporated $RGA

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. boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,158,803 shares of the insurance provider's stock after acquiring an additional 35,781 shares during the period. Alliancebernstein L.P. owned 1.75% of Reinsurance Group of America worth $228,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $28,000. Colonial Trust Co SC grew its stake 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 buying an additional 57 shares in the last quarter. 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 valued at $29,000 after acquiring an additional 92 shares during the period. 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 valued at $33,000 after acquiring an additional 121 shares during the period. Finally, TCTC Holdings LLC lifted its position in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA traded down $0.51 on Tuesday, hitting $191.71. The company's stock had a trading volume of 103,612 shares, compared to its average volume of 444,335. The company has a market capitalization of $12.67 billion, a PE ratio of 16.63 and a beta of 0.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50-day simple moving average of $192.14 and a 200 day simple moving average of $193.77. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued 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 business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.48 EPS. Sell-side 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. Stockholders of record on Tuesday, August 12th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is currently 32.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RGA shares. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Morgan Stanley reduced their target price on 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. JPMorgan Chase & Co. upped their price target 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. Finally, Wells Fargo & Company cut their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America 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.