Fox Run Management L.L.C. Raises Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Fox Run Management L.L.C. increased its stake in Reinsurance Group of America, Incorporated by 153.6%, acquiring an additional 2,127 shares and holding a total of 3,512 shares valued at approximately $692,000.
• Reinsurance Group of America announced an increase in its quarterly dividend from $0.89 to $0.93 per share, representing an annualized dividend of $3.72 with a yield of 2.0%.
• The company's recent earnings report revealed a miss on EPS estimates, posting $4.72 compared to the consensus estimate of $5.58, while revenue was also below expectations at $5.60 billion.

Fox Run Management L.L.C. lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 153.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,512 shares of the insurance provider's stock after purchasing an additional 2,127 shares during the period. Fox Run Management L.L.C.'s holdings in Reinsurance Group of America were worth $692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RGA. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Reinsurance Group of America by 38.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock worth $1,729,000 after buying an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Reinsurance Group of America by 13.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 92 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Reinsurance Group of America by 1,265.2% in the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock worth $1,290,000 after acquiring an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Reinsurance Group of America by 7.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock worth $33,984,000 after purchasing an additional 12,217 shares during the period. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded up $4.0080 on Friday, hitting $195.3580. 71,606 shares of the company were exchanged, compared to its average volume of 454,641. The firm has a market capitalization of $12.91 billion, a P/E ratio of 16.98 and a beta of 0.61. 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 1-year low of $159.25 and a 1-year high of $233.81. The stock's 50 day moving average price is $192.86 and its 200 day moving average price is $194.91.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released 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). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company earned $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given 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 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, August 12th. Reinsurance Group of America's payout ratio is currently 32.29%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley dropped their price objective on 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. Wells Fargo & Company cut their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.