AlphaQuest LLC Purchases 8,063 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• AlphaQuest LLC increased its stake in Reinsurance Group of America by 205.4% during the second quarter, acquiring an additional 8,063 shares, bringing its total holdings to 11,988 shares worth approximately $2.38 million.
• Reinsurance Group of America reported earnings of $4.72 per share for the last quarter, missing analysts' estimates by 0.86, with revenues of $5.60 billion, also below expectations.
• The company announced an increase in its quarterly dividend to $0.93 per share, resulting in an annualized dividend yield of 2.0% and a payout ratio of 32.29%.

AlphaQuest LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 205.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,988 shares of the insurance provider's stock after buying an additional 8,063 shares during the period. AlphaQuest LLC's holdings in Reinsurance Group of America were worth $2,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RGA. AlTi Global Inc. acquired a new position in shares of Reinsurance Group of America during the second quarter valued at about $349,000. First Citizens Bank & Trust Co. raised its holdings in shares of Reinsurance Group of America by 276.8% during the second quarter. First Citizens Bank & Trust Co. now owns 6,146 shares of the insurance provider's stock valued at $1,219,000 after purchasing an additional 4,515 shares during the period. Forum Financial Management LP raised its holdings in shares of Reinsurance Group of America by 8.4% during the second quarter. Forum Financial Management LP now owns 1,991 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 155 shares during the period. Securian Asset Management Inc. raised its holdings in shares of Reinsurance Group of America by 2.0% during the second quarter. Securian Asset Management Inc. now owns 5,079 shares of the insurance provider's stock valued at $1,007,000 after purchasing an additional 100 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Reinsurance Group of America by 22.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 7,428 shares of the insurance provider's stock valued at $1,456,000 after purchasing an additional 1,339 shares during the period. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 0.0%

RGA opened at $189.71 on Friday. 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 market cap of $12.54 billion, a price-to-earnings ratio of 16.46 and a beta of 0.60. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company's 50-day moving average price is $191.74 and its two-hundred day moving average price is $193.29.

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 for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations 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 was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.48 earnings per share. As a group, equities 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 company 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. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 annualized dividend and a yield of 2.0%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley decreased their target price 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 report on Monday, August 18th. Raymond James Financial downgraded shares of Reinsurance Group of America from a "market perform" rating to an "underperform" rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Finally, Barclays reaffirmed an "overweight" rating and issued a $246.00 price objective on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $241.56.

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.

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