Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Reinsurance Group of America by 86.7%, holding only 1,920 shares worth $378,000 after selling a significant portion.
• The company has recently increased its quarterly dividend from $0.89 to $0.93, reflecting confidence in its financial health.
• Analysts have generally rated the stock positively, with average target prices now around $244.36 and several firms issuing "overweight" ratings.

Pacer Advisors Inc. decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 86.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,920 shares of the insurance provider's stock after selling 12,482 shares during the period. Pacer Advisors Inc.'s holdings in Reinsurance Group of America were worth $378,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RGA. FMR LLC boosted its stake in shares of Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock worth $1,205,042,000 after buying an additional 564,693 shares during the period. GAMMA Investing LLC lifted its position in Reinsurance Group of America by 54,931.6% in the first quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock valued at $93,512,000 after purchasing an additional 474,060 shares during the period. Tidal Investments LLC lifted its position in Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock valued at $60,963,000 after purchasing an additional 281,317 shares during the period. Invesco Ltd. lifted its position in Reinsurance Group of America by 34.4% in the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider's stock valued at $201,802,000 after purchasing an additional 241,669 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Reinsurance Group of America by 256.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 326,257 shares of the insurance provider's stock valued at $64,240,000 after purchasing an additional 234,780 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised 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 research report on Wednesday, May 7th. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $249.00 target price (up from $248.00) on shares of Reinsurance Group of America in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price 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. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $244.36.

Reinsurance Group of America Price Performance

Shares of RGA traded down $15.07 during mid-day trading on Friday, reaching $177.38. 1,819,821 shares of the company's stock were exchanged, compared to its average volume of 328,415. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $197.24 and a two-hundred day simple moving average of $198.74. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 15.40 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 EPS for the quarter, missing the consensus estimate of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.82% and a net margin of 3.54%. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the previous year, the firm posted $5.48 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.93 dividend. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 annualized dividend and a yield of 2.1%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.90%.

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.