350,899 Shares in Reinsurance Group of America, Incorporated $RGA Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired 350,899 shares of Reinsurance Group of America, valued at approximately $69 million, increasing its stake to 0.53% of the company.
• The company's quarterly earnings reported an EPS of $4.72, falling short of expectations, while also showing a 14.8% year-over-year revenue growth.
• Reinsurance Group of America has announced an increase in its quarterly dividend to $0.93, representing a dividend yield of 2.0% and a payout ratio of 32.29%.

Nuveen LLC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 350,899 shares of the insurance provider's stock, valued at approximately $69,092,000. Nuveen LLC owned approximately 0.53% of Reinsurance Group of America at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC increased its stake in Reinsurance Group of America by 24.8% in the fourth 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. Barclays PLC grew its stake in shares of Reinsurance Group of America by 69.3% during the fourth quarter. Barclays PLC now owns 174,049 shares of the insurance provider's stock worth $37,184,000 after buying an additional 71,259 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Reinsurance Group of America during the fourth quarter worth $205,000. Insigneo Advisory Services LLC acquired a new position in shares of Reinsurance Group of America during the fourth quarter worth $431,000. Finally, Marshall Wace LLP bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at $3,712,000. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 0.4%

Reinsurance Group of America stock traded down $0.77 during mid-day trading on Monday, reaching $187.42. The stock had a trading volume of 110,070 shares, compared to its average volume of 458,461. 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 stock's 50-day simple moving average is $193.71 and its 200-day simple moving average is $195.51. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a market capitalization of $12.39 billion, a PE ratio of 16.27 and a beta of 0.61.

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 for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%. The company's revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.48 EPS. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a $0.93 dividend. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RGA. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley set a $195.00 price objective on shares of Reinsurance Group of America and gave the company an "equal weight" rating in a report on Monday. Wells Fargo & Company cut their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

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.