Jacobs Levy Equity Management Inc. Lowers 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. cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,926 shares of the insurance provider's stock after selling 18,716 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.96% of Reinsurance Group of America worth $124,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Reinsurance Group of America during the first quarter valued at approximately $28,000. Colonial Trust Co SC grew its position in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after buying an additional 57 shares during the period. Golden State Wealth Management LLC grew its position in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after buying an additional 92 shares during the period. Cornerstone Planning Group LLC grew its position in Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after buying an additional 121 shares during the period. Finally, TCTC Holdings LLC grew its position in Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after buying an additional 89 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

NYSE:RGA traded up $0.82 during trading hours on Wednesday, hitting $191.63. 133,475 shares of the stock traded hands, compared to its average volume of 444,739. 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. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 16.65 and a beta of 0.59. The stock has a 50 day moving average price of $191.97 and a 200 day moving average price of $193.74.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, July 31st. The insurance provider reported $4.72 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 company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period last year, the firm posted $5.48 EPS. Reinsurance Group of America's quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders 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 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. Reinsurance Group of America's payout ratio is presently 32.29%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Wells Fargo & Company cut their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of 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, Morgan Stanley cut their target price on shares of 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. 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, Reinsurance Group of America presently has a consensus 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.