Reinsurance Group of America, Incorporated $RGA Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Reinsurance Group of America by 4.5%, selling 10,286 shares and now owning approximately 0.33% of the company.
• Reinsurance Group of America reported earnings of $4.72 per share, missing the consensus estimate by $0.86, with revenue of $5.60 billion for the quarter.
• The company announced an increase in its quarterly dividend to $0.93, representing an annualized dividend yield of 1.9%.

Raymond James Financial Inc. decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 4.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 217,792 shares of the insurance provider's stock after selling 10,286 shares during the quarter. Raymond James Financial Inc. owned 0.33% of Reinsurance Group of America worth $42,883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Cordatus Wealth Management LLC raised its holdings in Reinsurance Group of America by 3.1% in the 1st quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock worth $331,000 after purchasing an additional 50 shares during the period. Journey Strategic Wealth LLC raised its holdings in Reinsurance Group of America by 4.9% in the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock worth $237,000 after purchasing an additional 56 shares during the period. Colonial Trust Co SC raised its holdings in Reinsurance Group of America by 72.2% in the 4th 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. Oregon Public Employees Retirement Fund raised its holdings in Reinsurance Group of America by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock worth $2,649,000 after purchasing an additional 60 shares during the period. Finally, Trust Point Inc. raised its holdings in Reinsurance Group of America by 5.4% in the 1st quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock worth $240,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

Shares of RGA stock traded down $1.60 during trading hours on Thursday, reaching $192.42. The company had a trading volume of 46,204 shares, compared to its average volume of 450,588. 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 has a fifty day moving average of $192.58 and a 200-day moving average of $194.06. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 16.70 and a beta of 0.61. 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 issued its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share 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 business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter in the previous year, the company posted $5.48 earnings per share. The company's revenue was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America's payout ratio is 32.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company reduced their target price on 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. Keefe, Bruyette & Woods increased 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. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, Morgan Stanley reduced their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $242.27.

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.