Amundi Grows Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Amundi significantly increased its stake in Reinsurance Group of America by purchasing an additional 35,436 shares, totaling approximately 35,499 shares and valued at $6.64 million.
• Reinsurance Group of America reported $4.72 earnings per share for its latest quarter, missing analysts' estimates, while its revenue increased by 14.8% year-over-year.
• The company announced a quarterly dividend increase from $0.89 to $0.93 per share, representing a modest annual dividend yield of 1.9%.

Amundi increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 56,247.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,499 shares of the insurance provider's stock after buying an additional 35,436 shares during the quarter. Amundi owned 0.05% of Reinsurance Group of America worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Reinsurance Group of America by 17.7% during the 4th quarter. Cetera Investment Advisers now owns 24,795 shares of the insurance provider's stock valued at $5,297,000 after buying an additional 3,721 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Reinsurance Group of America by 106.2% in the 4th quarter. Deutsche Bank AG now owns 77,424 shares of the insurance provider's stock worth $16,540,000 after purchasing an additional 39,876 shares in the last quarter. Focus Partners Wealth boosted its holdings in Reinsurance Group of America by 17.7% in the fourth quarter. Focus Partners Wealth now owns 1,210 shares of the insurance provider's stock worth $267,000 after acquiring an additional 182 shares in the last quarter. Gotham Asset Management LLC grew its position in Reinsurance Group of America by 190.1% during the 4th quarter. Gotham Asset Management LLC now owns 12,381 shares of the insurance provider's stock valued at $2,645,000 after purchasing an additional 8,113 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its position in shares of Reinsurance Group of America by 54.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 5,250 shares of the insurance provider's stock valued at $1,122,000 after acquiring an additional 1,845 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RGA. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley dropped 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 research report on Monday, August 18th. Finally, Wells Fargo & Company reduced their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded down $2.47 during mid-day trading on Tuesday, reaching $186.85. The stock had a trading volume of 648,453 shares, compared to its average volume of 314,888. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 16.22 and a beta of 0.59. The business's fifty day moving average is $191.39 and its 200-day moving average is $193.42.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released 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 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% on a year-over-year basis. During the same period last year, the company earned $5.48 earnings per share. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America's dividend payout ratio (DPR) 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.