Reinsurance Group of America, Incorporated $RGA Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in Reinsurance Group of America by 3.4%, owning 73,357 shares valued at approximately $14.4 million as of its latest SEC filing.
• Several hedge funds increased their stakes significantly, with American Century Companies raising its position by 67.9% and GAMMA Investing LLC by 54,931.6%.
• Reinsurance Group of America announced a quarterly dividend increase from $0.89 to $0.93, representing a 1.9% dividend yield based on an annualized payout of $3.72.

Great Lakes Advisors LLC trimmed its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,357 shares of the insurance provider's stock after selling 2,555 shares during the quarter. Great Lakes Advisors LLC owned 0.11% of Reinsurance Group of America worth $14,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sciencast Management LP purchased a new stake in shares of Reinsurance Group of America during the 1st quarter valued at about $293,000. Goldman Sachs Group Inc. grew its holdings in Reinsurance Group of America by 44.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider's stock valued at $43,554,000 after purchasing an additional 67,880 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Reinsurance Group of America by 1,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 12,083 shares of the insurance provider's stock valued at $2,379,000 after purchasing an additional 11,383 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Reinsurance Group of America during the 1st quarter valued at about $620,000. Finally, Petrus Trust Company LTA grew its holdings in Reinsurance Group of America by 78.9% during the 1st quarter. Petrus Trust Company LTA now owns 2,211 shares of the insurance provider's stock valued at $435,000 after purchasing an additional 975 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RGA shares. JPMorgan Chase & Co. upped 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. 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 research report on Monday, August 18th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Finally, 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 research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, 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 1.3%

RGA stock traded down $2.56 during trading on Friday, hitting $192.13. 330,932 shares of the company's stock traded hands, compared to its average volume of 308,282. The firm has a market capitalization of $12.70 billion, a P/E ratio of 16.68 and a beta of 0.59. The business has a fifty day simple moving average of $191.72 and a two-hundred day simple moving average of $193.56. The company has a quick ratio of 0.16, a current 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.

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

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.93 per share. 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. This represents a $3.72 annualized dividend and a yield of 1.9%. Reinsurance Group of America's dividend payout ratio is 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.