Reinsurance Group of America, Incorporated $RGA Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has cut its stake in Reinsurance Group of America by 56.6%, now holding only 6,631 shares, valued at approximately $1.3 million.
• Several institutional investors have increased their positions in Reinsurance Group of America, with American Century Companies Inc. raising its stake by 67.9%.
• The company recently declared an increased quarterly dividend of $0.93, indicating a commitment to returning value to shareholders despite a weaker earnings report.

Credit Agricole S A lessened its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 56.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,631 shares of the insurance provider's stock after selling 8,635 shares during the period. Credit Agricole S A's holdings in Reinsurance Group of America were worth $1,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Reinsurance Group of America during the 1st quarter worth approximately $28,000. Colonial Trust Co SC grew its position in shares of Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after buying an additional 57 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after buying an additional 92 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after buying an additional 121 shares during the last quarter. Finally, TCTC Holdings LLC grew its position in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

NYSE RGA traded up $1.08 during trading hours on Friday, reaching $194.52. The company's stock had a trading volume of 110,959 shares, compared to its average volume of 449,892. The stock has a market cap of $12.86 billion, a PE ratio of 16.89 and a beta of 0.61. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The company's 50-day moving average is $192.54 and its two-hundred day moving average is $194.01. 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 (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 the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.Reinsurance Group of America's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.48 earnings per share. Analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.93 dividend. This is a boost 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%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased 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 report on Monday, August 4th. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report 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 company an "outperform" rating in a research report on Wednesday, May 7th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Finally, Morgan Stanley decreased 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 research note on Monday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.