Jacobs Levy Equity Management Inc. Has $124.82 Million Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Reinsurance Group of America by 2.9%, holding 633,926 shares valued at approximately $124.8 million after selling 18,716 shares in the first quarter.
• Wealth Enhancement Advisory Services LLC increased its holdings in the company by 38.2%, while several other institutional investors also adjusted their stakes, with a total of 95.11% of the stock currently owned by institutional investors.
• Reinsurance Group of America announced a quarterly dividend increase to $0.93 per share, up from the previous dividend of $0.89, reflecting a 1.9% dividend yield with a payout ratio of 32.29%.

Jacobs Levy Equity Management Inc. lessened its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,926 shares of the insurance provider's stock after selling 18,716 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.96% of Reinsurance Group of America worth $124,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Co SC lifted its position in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Reinsurance Group of America during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its position in Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. TCTC Holdings LLC raised its position in Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Trading Down 0.7%

NYSE RGA traded down $1.43 on Tuesday, reaching $190.79. The company had a trading volume of 482,499 shares, compared to its average volume of 446,665. The stock's 50 day moving average is $192.14 and its 200-day moving average is $193.77. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 16.56 and a beta of 0.59. 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 52 week low of $159.25 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly 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 return on equity of 12.56% and a net margin of 3.54%.The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $5.48 earnings per share. The firm's revenue was up 14.8% compared to the same quarter last year. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. This is an increase 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 dividend payout ratio is currently 32.29%.

Analyst Ratings Changes

RGA has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.