Nuance Investments LLC Sells 82,923 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Nuance Investments LLC sold 82,923 shares of Reinsurance Group of America, reducing its stake by 49.8% and leaving it with 83,430 shares, which constitutes about 1.1% of its investment portfolio.
• Reinsurance Group of America reported earnings of $4.72 per share for the latest quarter, missing expectations, with revenue of $5.60 billion, also falling short of the consensus estimate of $5.70 billion.
• The company has increased its quarterly dividend to $0.93 per share, representing a 2.0% annual yield, indicating a positive signal for shareholders amidst recent performance challenges.

Nuance Investments LLC decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 49.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,430 shares of the insurance provider's stock after selling 82,923 shares during the quarter. Reinsurance Group of America accounts for approximately 1.1% of Nuance Investments LLC's investment portfolio, making the stock its 23rd largest position. Nuance Investments LLC owned 0.13% of Reinsurance Group of America worth $16,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC lifted 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 worth $29,000 after purchasing an additional 57 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Reinsurance Group of America in the first quarter worth about $28,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 worth $29,000 after acquiring an additional 92 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of 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 worth $33,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $186.13 on Tuesday. The business has a 50 day moving average of $194.88 and a 200-day moving average of $196.67. 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 debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $12.30 billion, a P/E ratio of 16.16 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 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 the consensus estimate of $5.70 billion. During the same quarter in the previous year, the business posted $5.48 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.0%. 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 is currently 30.90%.

Analysts Set New Price Targets

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

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.

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.