National Bank of Canada FI Has $7.58 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• National Bank of Canada FI increased its holdings in Reinsurance Group of America by 31.2% during the first quarter, now owning 38,490 shares valued at approximately $7.58 million.
• Reinsurance Group of America reported earnings per share (EPS) of $4.72 for the recent quarter, missing analyst estimates, while revenue increased 14.8% compared to last year.
• The company also announced a quarterly dividend of $0.93 per share, an increase from its previous dividend, representing a yield of 2.0%.

National Bank of Canada FI boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 31.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,490 shares of the insurance provider's stock after purchasing an additional 9,151 shares during the quarter. National Bank of Canada FI owned about 0.06% of Reinsurance Group of America worth $7,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Raymond James Financial Inc. acquired a new stake in Reinsurance Group of America during the 4th quarter worth $48,724,000. Capital Fund Management S.A. acquired a new stake in Reinsurance Group of America during the 4th quarter worth $3,009,000. Sterling Capital Management LLC grew its holdings in Reinsurance Group of America by 26.7% during the 4th quarter. Sterling Capital Management LLC now owns 6,687 shares of the insurance provider's stock worth $1,429,000 after acquiring an additional 1,409 shares during the period. Townsquare Capital LLC increased its stake in shares of Reinsurance Group of America by 24.8% in the 4th quarter. Townsquare Capital LLC now owns 2,263 shares of the insurance provider's stock valued at $483,000 after acquiring an additional 450 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Reinsurance Group of America by 69.3% in the 4th quarter. Barclays PLC now owns 174,049 shares of the insurance provider's stock valued at $37,184,000 after acquiring an additional 71,259 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

Shares of NYSE RGA traded down $0.78 during mid-day trading on Friday, reaching $188.44. The company had a trading volume of 360,567 shares, compared to its average volume of 460,769. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50-day simple moving average is $194.07 and its 200 day simple moving average is $196.28. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 16.36 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $5.48 EPS. The business's revenue was up 14.8% on a year-over-year basis. On average, research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.93 dividend. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's payout ratio is presently 32.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on RGA. 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 research note on Monday, August 4th. Morgan Stanley upped their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $243.64.

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.