American Century Companies Inc. Acquires 611,226 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• American Century Companies Inc. increased its stake in Reinsurance Group of America by 67.9%, now owning over 1.5 million shares valued at approximately $297.7 million.
• Several analysts have adjusted their price targets for Reinsurance Group of America, with JPMorgan Chase raising it from $237 to $264, reflecting a strong market sentiment.
• The company recently declared a quarterly dividend of $0.93, a slight increase from the previous $0.89, signaling confidence in its financial stability.

American Century Companies Inc. grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 67.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,511,927 shares of the insurance provider's stock after buying an additional 611,226 shares during the period. American Century Companies Inc. owned 2.29% of Reinsurance Group of America worth $297,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGA. GAMMA Investing LLC increased its stake in shares of Reinsurance Group of America by 54,931.6% in the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock valued at $93,512,000 after buying an additional 474,060 shares during the period. Nuveen LLC acquired a new stake in shares of Reinsurance Group of America during the first quarter worth $69,092,000. Tidal Investments LLC grew its stake in shares of Reinsurance Group of America by 6,944.4% during the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock worth $60,963,000 after purchasing an additional 281,317 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Reinsurance Group of America by 256.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 326,257 shares of the insurance provider's stock worth $64,240,000 after purchasing an additional 234,780 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Reinsurance Group of America by 466.6% during the first quarter. Assenagon Asset Management S.A. now owns 235,219 shares of the insurance provider's stock worth $46,315,000 after purchasing an additional 193,703 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock traded up $1.18 on Tuesday, hitting $189.23. The stock had a trading volume of 253,670 shares, compared to its average volume of 459,082. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The business's 50 day moving average is $193.40 and its two-hundred day moving average is $195.23. 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 $12.51 billion, a price-to-earnings ratio of 16.43 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its 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 net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $5.48 EPS. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.93 per share. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. Reinsurance Group of America's dividend payout ratio is 32.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RGA. Wells Fargo & Company decreased their price objective on 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 boosted their target price on 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 decreased 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 research note on Monday. JPMorgan Chase & Co. boosted their target price on 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. 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.