Reinsurance Group of America, Incorporated $RGA Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its holdings in Reinsurance Group of America by 9.7%, owning approximately 0.72% of the company following the sale of 51,134 shares in the first quarter.
• Reinsurance Group of America reported quarterly earnings of $4.72 EPS, missing analyst estimates of $5.58, and had a year-over-year revenue increase of 14.8%.
• The company announced a dividend increase to $0.93 per share, with a yield of 1.9%, up from the previous $0.89 quarterly dividend.

Ameriprise Financial Inc. cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 475,035 shares of the insurance provider's stock after selling 51,134 shares during the period. Ameriprise Financial Inc. owned about 0.72% of Reinsurance Group of America worth $93,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cordatus Wealth Management LLC boosted its holdings in Reinsurance Group of America by 3.1% in the first quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock valued at $331,000 after purchasing an additional 50 shares during the period. Journey Strategic Wealth LLC boosted its holdings in Reinsurance Group of America by 4.9% in the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock valued at $237,000 after purchasing an additional 56 shares during the period. Colonial Trust Co SC boosted its holdings in Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 57 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Reinsurance Group of America by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock valued at $2,649,000 after purchasing an additional 60 shares during the period. Finally, Trust Point Inc. boosted its holdings in Reinsurance Group of America by 5.4% in the first quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock valued at $240,000 after purchasing an additional 62 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RGA shares. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Wells Fargo & Company decreased their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley decreased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Performance

Shares of RGA traded down $0.61 during midday trading on Thursday, reaching $193.41. 270,765 shares of the stock were exchanged, compared to its average volume of 533,347. The business's 50-day moving average price is $192.54 and its 200 day moving average price is $194.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 16.79 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly 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). The company 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 business's revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 EPS. On average, sell-side analysts expect 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. Investors of record on Tuesday, August 12th were given a $0.93 dividend. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 annualized dividend and a yield of 1.9%. Reinsurance Group of America's payout ratio is presently 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.