AQR Capital Management LLC Buys 246,361 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• AQR Capital Management LLC increased its position in Reinsurance Group of America by 66.5%, owning 616,946 shares worth approximately $119.69 million as of the latest reporting period.
• The company recently increased its quarterly dividend to $0.93 per share, up from $0.89, resulting in an annualized dividend yield of 1.9%.
• Reinsurance Group of America reported Q2 earnings per share of $4.72, missing estimates by $0.86, while its revenue of $5.60 billion was also below the expected $5.70 billion.

AQR Capital Management LLC boosted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 66.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 616,946 shares of the insurance provider's stock after acquiring an additional 246,361 shares during the quarter. AQR Capital Management LLC owned approximately 0.93% of Reinsurance Group of America worth $119,687,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RGA. American Century Companies Inc. increased its holdings in shares of Reinsurance Group of America by 67.9% in the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider's stock valued at $297,699,000 after purchasing an additional 611,226 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Reinsurance Group of America by 54,931.6% in the first quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock valued at $93,512,000 after purchasing an additional 474,060 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $69,092,000. Tidal Investments LLC increased its holdings in shares of Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock valued at $60,963,000 after purchasing an additional 281,317 shares in the last quarter. Finally, Bahl & Gaynor Inc. acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $55,375,000. Institutional investors own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of 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. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company lowered their price target on shares of 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. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Trading Down 0.7%

Shares of NYSE RGA traded down $1.43 during midday trading on Tuesday, reaching $190.79. 482,499 shares of the stock were exchanged, compared to its average volume of 446,665. The business has a 50-day simple moving average of $192.14 and a two-hundred day simple moving average of $193.77. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 16.56 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 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 (NYSE:RGA - Get Free Report) last announced its quarterly 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 firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.48 earnings per share. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. 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 1.9%. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's payout ratio is 32.29%.

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.