Reinsurance Group of America, Incorporated $RGA Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Reinsurance Group of America by 903.8%, acquiring an additional 3,534 shares, bringing its total holdings to 3,925 shares worth $773,000.
• Reinsurance Group of America recently reported earnings per share of $4.72, which fell short of the anticipated $5.58, despite achieving revenue of $5.60 billion for the quarter.
• The company will increase its dividend to $0.93 per share, effective from August 26, 2023, raising its annualized yield to 1.9%.

AlphaQuest LLC increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 903.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,925 shares of the insurance provider's stock after acquiring an additional 3,534 shares during the quarter. AlphaQuest LLC's holdings in Reinsurance Group of America were worth $773,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock worth $1,729,000 after purchasing an additional 2,428 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Reinsurance Group of America by 13.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock worth $768,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC increased its stake in Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after buying an additional 92 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Reinsurance Group of America by 1,265.2% during the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after acquiring an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Reinsurance Group of America by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after acquiring an additional 12,217 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RGA shares. Morgan Stanley decreased their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Wells Fargo & Company dropped their target price 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. JPMorgan Chase & Co. lifted 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 report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Trading Up 0.5%

NYSE RGA traded up $0.97 during trading hours on Friday, hitting $194.41. 131,683 shares of the company were exchanged, compared to its average volume of 450,020. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $192.54 and a 200 day moving average price of $194.01. The stock has a market cap of $12.85 billion, a PE ratio of 16.89 and a beta of 0.61.

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

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. 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 dividend payout ratio is currently 32.29%.

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.