Martingale Asset Management L P Cuts Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Martingale Asset Management L P reduced its stake in Reinsurance Group of America by 6.5%, now owning approximately 106,357 shares valued at $20.94 million.
• Reinsurance Group of America reported $4.72 EPS for the last quarter, falling short of the consensus estimate of $5.58 EPS, while the revenue increased by 14.8% year-over-year.
• The company increased its quarterly dividend to $0.93, reflecting an annual yield of 1.9%, up from the previous dividend of $0.89.

Martingale Asset Management L P cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 106,357 shares of the insurance provider's stock after selling 7,359 shares during the quarter. Martingale Asset Management L P owned approximately 0.16% of Reinsurance Group of America worth $20,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RGA. Alpine Bank Wealth Management acquired a new position in shares of Reinsurance Group of America during the first quarter worth about $28,000. Colonial Trust Co SC grew its position in shares of 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 worth $29,000 after buying an additional 57 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of 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 worth $29,000 after buying an additional 92 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of 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 worth $33,000 after buying an additional 121 shares in the last quarter. Finally, TCTC Holdings LLC grew its position in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after buying an additional 89 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE RGA traded up $1.46 on Tuesday, reaching $192.57. The stock had a trading volume of 103,577 shares, compared to its average volume of 452,358. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The business's 50-day moving average price is $192.66 and its 200 day moving average price is $194.07. The stock has a market cap of $12.73 billion, a P/E ratio of 16.71 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter last year, the company earned $5.48 EPS. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts expect 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 will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid 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 is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RGA shares. Wells Fargo & Company lowered 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 lowered 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. Keefe, Bruyette & Woods upped their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped 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 research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America 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.