Dynamic Technology Lab Private Ltd Takes $620,000 Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Dynamic Technology Lab Private Ltd acquired 3,150 shares of Reinsurance Group of America, valued at approximately $620,000, marking the establishment of a new position in the company.
• Reinsurance Group of America reported earnings per share (EPS) of $4.72, missing estimates of $5.58, alongside a revenue of $5.60 billion, which was also below expectations.
• The company recently increased its quarterly dividend from $0.89 to $0.93 per share, resulting in an annualized basis dividend of $3.72 and a yield of 1.9%.

Dynamic Technology Lab Private Ltd acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,150 shares of the insurance provider's stock, valued at approximately $620,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cordatus Wealth Management LLC boosted its holdings 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 buying an additional 50 shares during the period. Journey Strategic Wealth LLC boosted its holdings in Reinsurance Group of America by 4.9% in 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. Oregon Public Employees Retirement Fund boosted its holdings in Reinsurance Group of America by 0.4% in 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. Trust Point Inc. boosted its holdings in Reinsurance Group of America by 5.4% in 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. Finally, Mount Lucas Management LP boosted its holdings in Reinsurance Group of America by 3.6% in the 1st quarter. Mount Lucas Management LP now owns 2,223 shares of the insurance provider's stock worth $438,000 after buying an additional 77 shares during the period. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RGA has been the subject of several analyst reports. Wells Fargo & Company cut their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley cut 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 report on Monday, August 18th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus price target of $242.27.

Reinsurance Group of America Trading Down 0.1%

Reinsurance Group of America stock traded down $0.13 during trading hours on Monday, reaching $192.07. The stock had a trading volume of 70,865 shares, compared to its average volume of 443,646. The stock has a market cap of $12.69 billion, a PE ratio of 16.67 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 current ratio of 0.16 and a quick ratio of 0.16. The company has a fifty day simple moving average of $191.72 and a 200-day simple moving average of $193.56.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced 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). The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate 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 was up 14.8% on a year-over-year basis. During the same period last year, the business earned $5.48 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.93 per share. 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. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is presently 32.29%.

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.