Reinsurance Group of America, Incorporated $RGA Shares Purchased by AQR Capital Management LLC

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 grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 616,946 shares of the insurance provider's stock after purchasing 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 filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cordatus Wealth Management LLC grew its holdings in shares of Reinsurance Group of America by 3.1% during the first quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock worth $331,000 after purchasing an additional 50 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock worth $237,000 after purchasing an additional 56 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Reinsurance Group of America by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock worth $2,649,000 after purchasing an additional 60 shares during the last quarter. Finally, Trust Point Inc. grew its holdings in shares of Reinsurance Group of America by 5.4% during the first quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock worth $240,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of RGA stock traded up $0.27 during midday trading on Wednesday, reaching $191.08. 63,478 shares of the company traded hands, compared to its average volume of 444,325. The firm's 50 day simple moving average is $191.97 and its two-hundred day simple moving average is $193.74. 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 debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $12.63 billion, a PE ratio of 16.57 and a beta of 0.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business posted $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. On average, equities research 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. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. 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. Reinsurance Group of America's payout ratio is 32.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RGA. Morgan Stanley decreased their target price on shares of 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, August 18th. JPMorgan Chase & Co. increased their target price on shares of 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. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and an average target price 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.