Caisse DE Depot ET Placement DU Quebec Has $11 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its holdings in Reinsurance Group of America (NYSE:RGA) by 43.5% during the first quarter, now owning 55,840 shares worth approximately $10.99 million.
• The company recently missed analysts' earnings estimates, reporting $4.72 EPS for the quarter, which was below the expected $5.58 EPS.
• Reinsurance Group of America has announced an increase in its quarterly dividend from $0.89 to $0.93, representing an annualized yield of 1.9%.

Caisse DE Depot ET Placement DU Quebec lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,840 shares of the insurance provider's stock after selling 43,037 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.08% of Reinsurance Group of America worth $10,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Alpine Bank Wealth Management acquired a new stake in shares of Reinsurance Group of America in the first quarter worth $28,000. Colonial Trust Co SC boosted its stake in 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 buying an additional 57 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after buying an additional 92 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after buying an additional 121 shares in the last quarter. Finally, TCTC Holdings LLC boosted its stake in Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA traded up $1.16 during midday trading on Monday, reaching $194.60. 303,349 shares of the company traded hands, compared to its average volume of 445,503. The stock's 50-day simple moving average is $192.51 and its 200-day simple moving average is $193.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The firm has a market cap of $12.86 billion, a PE ratio of 16.89 and a beta of 0.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released 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 business 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 business's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.93 dividend. 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 dividend payout ratio (DPR) is presently 32.29%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. lifted their price target 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. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price objective on 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. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

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.