Envestnet Portfolio Solutions Inc. Boosts Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Reinsurance Group of America by 21.5% in Q2, owning 27,895 shares valued at approximately $5.53 million.
• The Reinsurance Group of America reported earnings of $4.72 per share for the quarter, missing estimates and showing a 14.8% increase in revenue year-over-year.
• The company also announced a quarterly dividend of $0.93 per share, reflecting a boost from the previous dividend of $0.89, with a payout ratio of 32.29%.

Envestnet Portfolio Solutions Inc. grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,895 shares of the insurance provider's stock after purchasing an additional 4,933 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Reinsurance Group of America were worth $5,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new position in shares of Reinsurance Group of America in the second quarter valued at approximately $388,000. Vest Financial LLC raised its holdings in Reinsurance Group of America by 30.7% in the second quarter. Vest Financial LLC now owns 20,001 shares of the insurance provider's stock valued at $3,967,000 after acquiring an additional 4,699 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Reinsurance Group of America by 4.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 179,295 shares of the insurance provider's stock valued at $35,721,000 after acquiring an additional 7,893 shares in the last quarter. CWM LLC raised its holdings in Reinsurance Group of America by 67.4% in the second quarter. CWM LLC now owns 12,281 shares of the insurance provider's stock valued at $2,436,000 after acquiring an additional 4,944 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Reinsurance Group of America by 21.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,954 shares of the insurance provider's stock valued at $1,974,000 after acquiring an additional 1,745 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 1.1%

RGA stock opened at $196.65 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company's 50 day moving average is $191.34 and its two-hundred day moving average is $193.24. The stock has a market cap of $13.00 billion, a P/E ratio of 17.07 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business posted $5.48 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's payout ratio is 32.29%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Wells Fargo & Company reduced their target price on shares of 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Finally, Barclays reaffirmed an "overweight" rating and issued a $246.00 target price on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus price target of $241.56.

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.

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