Reinsurance Group of America, Incorporated $RGA Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing LLC reduced its holdings in Reinsurance Group of America (RGA) by 22.7% during the first quarter, now owning 11,000 shares worth approximately $2.17 million.
• Several hedge funds have increased their positions in RGA, including Cornerstone Planning Group LLC and Headlands Technologies LLC, growing their stakes by over 200% and 350% respectively in the same period.
• RGA recently paid a quarterly dividend of $0.93 per share, representing a yield of 1.9%, up from the previous dividend of $0.89.

Inspire Investing LLC cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 22.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,000 shares of the insurance provider's stock after selling 3,224 shares during the quarter. Inspire Investing LLC's holdings in Reinsurance Group of America were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Reinsurance Group of America in the first quarter valued at $28,000. Golden State Wealth Management LLC raised its holdings in 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. TCTC Holdings LLC raised its holdings in Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 121 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 175 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded down $2.56 on Friday, reaching $192.13. 330,932 shares of the company's stock were exchanged, compared to its average volume of 308,282. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 16.68 and a beta of 0.59. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The business's 50-day moving average is $191.72 and its two-hundred day moving average is $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 (NYSE:RGA - Get Free Report) last issued its earnings results 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). The business had revenue of $5.60 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $5.48 earnings per share. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.93 dividend. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio is 32.29%.

Analysts Set New Price Targets

RGA has been the topic of several recent analyst reports. 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. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Wells Fargo & Company cut their price target 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. Finally, 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 on the stock in a report on Monday, August 18th. Seven 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 presently has an average rating of "Moderate Buy" and a consensus 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.