Lecap Asset Management Ltd. Reduces Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Lecap Asset Management Ltd. has reduced its holdings in Reinsurance Group of America, Incorporated by 44.9%, selling 5,386 shares during the second quarter and now holding 6,612 shares worth approximately $1.31 million.
• A number of large investors have increased their positions in the company, with Cornerstone Planning Group LLC raising its stake by 224.1% and TCTC Holdings LLC increasing theirs by 107.2% in the first quarter.
• Reinsurance Group of America recently declared a quarterly dividend of $0.93, reflecting a 1.9% yield, which is an increase from the previous dividend of $0.89.

Lecap Asset Management Ltd. decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 44.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,612 shares of the insurance provider's stock after selling 5,386 shares during the period. Lecap Asset Management Ltd.'s holdings in Reinsurance Group of America were worth $1,312,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Reinsurance Group of America in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC boosted its position 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 buying an additional 92 shares during the last quarter. Cornerstone Planning Group LLC boosted its position 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 buying an additional 121 shares during the last quarter. TCTC Holdings LLC lifted 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 during the period. Finally, Headlands Technologies LLC lifted 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 during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RGA. Wells Fargo & Company decreased their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley decreased their price target on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average price target of $241.50.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $193.24 on Thursday. The stock has a fifty day simple moving average of $190.09 and a 200-day simple moving average of $193.26. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a market cap of $12.77 billion, a PE ratio of 16.77 and a beta of 0.60.

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

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.