Focus Partners Advisor Solutions LLC Acquires New Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Focus Partners Advisor Solutions LLC has acquired a new stake in Reinsurance Group of America, purchasing 2,489 shares valued at approximately $490,000.
• Wall Street analysts have mixed outlooks on RGA, with seven analysts rating it as a "Buy" and a consensus target price of $242.27, while others have lowered their price targets.
• Reinsurance Group of America recently announced a dividend increase, raising its quarterly payment to $0.93, which corresponds to an annual yield of 1.9%.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,489 shares of the insurance provider's stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position in shares of Reinsurance Group of America by 3,076.5% during the first quarter. Cubist Systematic Strategies LLC now owns 99,423 shares of the insurance provider's stock valued at $19,576,000 after buying an additional 96,293 shares during the period. Royal Bank of Canada increased its position in shares of Reinsurance Group of America by 26.2% during the first quarter. Royal Bank of Canada now owns 83,034 shares of the insurance provider's stock valued at $16,351,000 after buying an additional 17,242 shares during the period. Graham Capital Management L.P. increased its position in shares of Reinsurance Group of America by 54.4% during the first quarter. Graham Capital Management L.P. now owns 63,631 shares of the insurance provider's stock valued at $12,529,000 after buying an additional 22,406 shares during the period. Quarry LP increased its position in shares of Reinsurance Group of America by 424.6% during the first quarter. Quarry LP now owns 598 shares of the insurance provider's stock valued at $118,000 after buying an additional 484 shares during the period. Finally, Vident Advisory LLC increased its position in shares of Reinsurance Group of America by 8.0% during the first quarter. Vident Advisory LLC now owns 8,132 shares of the insurance provider's stock valued at $1,601,000 after buying an additional 601 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RGA has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Raymond James Financial restated 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 objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Seven equities research 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, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Stock Down 2.3%

RGA stock opened at $193.03 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $192.27 and its 200 day moving average is $193.80. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 16.76 and a beta of 0.59. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.48 EPS. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.93 dividend. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's payout ratio is currently 32.29%.

Reinsurance Group of America Company 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.

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.