Douglas Lane & Associates LLC Reduces 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 Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 541,376 shares of the insurance provider's stock after selling 37,226 shares during the period. Reinsurance Group of America accounts for approximately 1.6% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 14th biggest position. Douglas Lane & Associates LLC owned approximately 0.82% of Reinsurance Group of America worth $107,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in shares of Reinsurance Group of America in the 1st quarter worth $28,000. Golden State Wealth Management LLC lifted its position in Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares during the period. TCTC Holdings LLC lifted its holdings in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after buying an additional 175 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA traded down $2.44 during trading on Friday, reaching $186.17. The company had a trading volume of 190,574 shares, compared to its average volume of 455,244. The stock has a market cap of $12.30 billion, a PE ratio of 16.16 and a beta of 0.59. 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 debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50 day moving average price is $191.05 and its 200-day moving average price is $193.30.

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 for the quarter, missing the consensus estimate 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 quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.48 EPS. Analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared 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 an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

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