R Squared Ltd Sells 2,080 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• R Squared Ltd sold 2,080 shares of Reinsurance Group of America, reducing its position by 65.8%, leaving it with 1,080 shares valued at $214,000.
• The company recently increased its quarterly dividend to $0.93 per share, up from $0.89, with a dividend yield of 2.0%.
• Reinsurance Group of America reported earnings per share of $4.72, missing estimates, while the revenue of $5.60 billion was up 14.8% year-over-year but fell short of expectations.

R Squared Ltd reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 65.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,080 shares of the insurance provider's stock after selling 2,080 shares during the period. R Squared Ltd's holdings in Reinsurance Group of America were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings 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 valued at $768,000 after acquiring an additional 452 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock valued at $1,729,000 after acquiring an additional 2,428 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in 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 valued at $29,000 after acquiring an additional 92 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Reinsurance Group of America by 1,265.2% in the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after acquiring an additional 6,073 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Reinsurance Group of America in the second quarter valued at approximately $388,000. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Down 0.2%

Reinsurance Group of America stock opened at $189.46 on Friday. 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. The firm's fifty day moving average is $191.76 and its 200 day moving average is $193.62. The company has a market capitalization of $12.52 billion, a PE ratio of 16.45 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued 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). 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 analyst estimates of $5.70 billion. During the same period in the previous year, the company earned $5.48 earnings per share. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change 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%. Reinsurance Group of America's payout ratio is currently 32.29%.

Analyst Ratings Changes

Several analysts recently commented on RGA shares. Morgan Stanley reduced their target price 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. Piper Sandler reiterated an "overweight" rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Raymond James Financial cut Reinsurance Group of America from a "market perform" rating to an "underperform" rating in a report on Friday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Reinsurance Group of America in a research report on Saturday. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $241.56.

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.

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