Blueshift Asset Management LLC Buys New Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Blueshift Asset Management LLC invested approximately $351,000 in Reinsurance Group of America by acquiring 1,781 shares in the 1st quarter.
• Reinsurance Group of America recently declared a quarterly dividend of $0.93 per share, up from the previous dividend of $0.89, representing a dividend yield of 2.1%.
• Despite a 7.8% decline in RGA's stock price, analysts maintain a consensus rating of "Moderate Buy" with a target price of $244.36.

Blueshift Asset Management LLC acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,781 shares of the insurance provider's stock, valued at approximately $351,000.

Several other hedge funds have also bought and sold shares of the stock. Cordatus Wealth Management LLC boosted its position in Reinsurance Group of America by 3.1% in the 1st 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 in the last quarter. Journey Strategic Wealth LLC raised its stake in shares of Reinsurance Group of America by 4.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock worth $237,000 after buying an additional 56 shares during the period. Colonial Trust Co SC raised its stake in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Reinsurance Group of America by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock worth $2,649,000 after buying an additional 60 shares during the period. Finally, Trust Point Inc. raised its stake in shares of Reinsurance Group of America by 5.4% during the 1st quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock worth $240,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Trading Down 0.3%

Shares of RGA traded down $0.56 during midday trading on Monday, reaching $176.77. The company had a trading volume of 1,159,942 shares, compared to its average volume of 456,728. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The stock has a market cap of $11.68 billion, a PE ratio of 15.34 and a beta of 0.61. The firm has a 50 day simple moving average of $197.24 and a 200-day simple moving average of $198.39. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its 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 return on equity of 12.56% and a net margin of 3.54%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business earned $5.48 earnings per share. The firm's revenue was up 14.8% compared to the same quarter last year. Research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is 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 dividend payout ratio is 30.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RGA shares. Wells Fargo & Company reduced their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research note on Monday. JPMorgan Chase & Co. upped their target price 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. Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price objective on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.64.

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.