Magnetar Financial LLC Sells 6,350 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Magnetar Financial LLC reduced its stake in Reinsurance Group of America by 34.8%, selling 6,350 shares and bringing its total holdings to 11,889 shares worth approximately $2.34 million.
• The company recently increased its quarterly dividend to $0.93 per share from $0.89, reflecting a 1.9% dividend yield and a payout ratio of 32.29%.
• Recent analyst ratings for Reinsurance Group of America show a mix of price target increases, with an average target of $242.27 and an overall rating of "Moderate Buy."

Magnetar Financial LLC lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 34.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,889 shares of the insurance provider's stock after selling 6,350 shares during the period. Magnetar Financial LLC's holdings in Reinsurance Group of America were worth $2,341,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. WPG Advisers LLC acquired a new position in Reinsurance Group of America in the 1st quarter valued at about $80,000. State of Wyoming bought a new stake in Reinsurance Group of America in the 1st quarter valued at about $121,000. Trexquant Investment LP boosted its holdings in Reinsurance Group of America by 6.2% in the 1st quarter. Trexquant Investment LP now owns 45,086 shares of the insurance provider's stock valued at $8,877,000 after purchasing an additional 2,646 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its holdings in Reinsurance Group of America by 19.4% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 75,550 shares of the insurance provider's stock valued at $14,876,000 after purchasing an additional 12,300 shares during the period. Finally, PEAK6 LLC bought a new stake in Reinsurance Group of America in the 1st quarter valued at about $3,267,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective 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. Keefe, Bruyette & Woods boosted their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley cut their price objective on shares of 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. Wells Fargo & Company cut their price objective on shares of 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. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Trading Up 0.2%

NYSE RGA traded up $0.49 on Thursday, hitting $197.03. The company's stock had a trading volume of 46,015 shares, compared to its average volume of 446,413. 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's 50-day moving average is $192.39 and its 200 day moving average is $193.87. The firm has a market cap of $13.02 billion, a PE ratio of 17.10 and a beta of 0.59.

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 net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the company posted $5.48 earnings per share. The company's revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. 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 was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

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.