Park Avenue Securities LLC Takes $1.90 Million Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Park Avenue Securities LLC has taken a new position in Reinsurance Group of America, purchasing 9,583 shares valued at approximately $1.90 million.
• Reinsurance Group of America missed earnings expectations for the recent quarter, reporting $4.72 EPS, below the consensus estimate of $5.58.
• The company announced a dividend increase to $0.93 per share, up from the previous dividend of $0.89, representing a yield of 1.9%.

Park Avenue Securities LLC bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,583 shares of the insurance provider's stock, valued at approximately $1,901,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Wealth Enhancement Advisory Services LLC raised its stake in shares of Reinsurance Group of America by 38.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock worth $1,729,000 after buying an additional 2,428 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Reinsurance Group of America by 13.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock worth $768,000 after acquiring an additional 452 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Reinsurance Group of America by 1,265.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after purchasing an additional 6,073 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Reinsurance Group of America by 7.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after purchasing an additional 12,217 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

RGA opened at $190.85 on Thursday. The firm has a market capitalization of $12.61 billion, a P/E ratio of 16.57 and a beta of 0.59. The stock has a fifty day moving average of $190.54 and a 200-day moving average of $193.16. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted 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). The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company's revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.48 earnings per share. Equities 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 was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.93 dividend. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RGA. 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 on the stock in a report on Monday, August 4th. Morgan Stanley dropped their price target on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their price objective 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. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $241.50.

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.

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