Douglas Lane & Associates LLC Has $107.39 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Douglas Lane & Associates LLC reduced its stake in Reinsurance Group of America by 6.4%, holding 541,376 shares valued at approximately $107.39 million.
• Reinsurance Group of America reported EPS of $4.72, missing analysts' estimates, despite a 14.8% increase in revenue year-over-year.
• The company recently raised its quarterly dividend from $0.89 to $0.93, reflecting a 1.9% yield and a payout ratio of 32.29%.

Douglas Lane & Associates LLC reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 541,376 shares of the insurance provider's stock after selling 37,226 shares during the period. Reinsurance Group of America makes up approximately 1.6% of Douglas Lane & Associates LLC's holdings, making the stock its 14th biggest holding. Douglas Lane & Associates LLC owned 0.82% of Reinsurance Group of America worth $107,387,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth grew its stake in shares of Reinsurance Group of America by 17.7% during the 4th quarter. Focus Partners Wealth now owns 1,210 shares of the insurance provider's stock worth $267,000 after acquiring an additional 182 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in shares of Reinsurance Group of America by 283.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,600 shares of the insurance provider's stock worth $983,000 after acquiring an additional 3,400 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $1,867,000. Quantinno Capital Management LP grew its stake in shares of Reinsurance Group of America by 8.0% during the 4th quarter. Quantinno Capital Management LP now owns 22,124 shares of the insurance provider's stock worth $4,726,000 after acquiring an additional 1,646 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Reinsurance Group of America by 48.3% during the 4th quarter. ProShare Advisors LLC now owns 4,259 shares of the insurance provider's stock worth $910,000 after acquiring an additional 1,388 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 1.3%

RGA stock opened at $192.13 on Friday. The company has a market cap of $12.70 billion, a PE ratio of 16.68 and a beta of 0.59. The business has a 50-day simple moving average of $191.72 and a 200 day simple moving average of $193.61. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. 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 posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $5.48 EPS. Sell-side analysts anticipate 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. Investors of record on Tuesday, August 12th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's payout ratio is presently 32.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. 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 for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley dropped their target price 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. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.