Reinsurance Group of America, Incorporated $RGA Shares Bought by Amundi

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 lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 56,247.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,499 shares of the insurance provider's stock after purchasing an additional 35,436 shares during the quarter. Amundi owned about 0.05% of Reinsurance Group of America worth $6,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Reinsurance Group of America in the first quarter valued at $28,000. Golden State Wealth Management LLC boosted its holdings in Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. TCTC Holdings LLC boosted its holdings in Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 121 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 1.3%

Reinsurance Group of America stock traded down $2.56 during midday trading on Friday, hitting $192.13. The stock had a trading volume of 330,932 shares, compared to its average volume of 309,763. 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 stock has a market cap of $12.70 billion, a P/E ratio of 16.68 and a beta of 0.59. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The business has a fifty day moving average price of $191.72 and a 200 day moving average price of $193.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share 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 the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $5.48 earnings per share. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts predict 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 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 is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. Reinsurance Group of America's payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley dropped 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 report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

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.