Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC significantly reduced its holdings in Reinsurance Group of America by 82.3%, now owning only 1,105 shares valued at $217,000 after selling 5,132 shares in the first quarter.
• The company reported earnings per share of $4.72 for the last quarter, missing analyst expectations of $5.58, while revenue reached $5.60 billion, slightly lower than the estimated $5.70 billion.
• Reinsurance Group of America recently declared a quarterly dividend of $0.93, raising it from the previous amount of $0.89, resulting in an annual yield of approximately 2.0%.

Thoroughbred Financial Services LLC cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 82.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,105 shares of the insurance provider's stock after selling 5,132 shares during the period. Thoroughbred Financial Services LLC's holdings in Reinsurance Group of America were worth $217,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Reinsurance Group of America in the first quarter worth approximately $28,000. Colonial Trust Co SC lifted its holdings in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after acquiring an additional 57 shares during the period. Golden State Wealth Management LLC lifted its holdings in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after acquiring an additional 121 shares during the period. Finally, TCTC Holdings LLC lifted its holdings in Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after acquiring an additional 89 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Up 0.8%

RGA stock traded up $1.43 during midday trading on Tuesday, hitting $186.73. The company's stock had a trading volume of 61,763 shares, compared to its average volume of 461,342. 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 52-week low of $159.25 and a 52-week high of $233.81. The firm has a market capitalization of $12.34 billion, a P/E ratio of 16.23 and a beta of 0.61. The firm has a 50-day simple moving average of $194.88 and a 200-day simple moving average of $196.67.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued 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). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the prior year, the business earned $5.48 EPS. The business's quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is presently 30.90%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RGA. Morgan Stanley boosted their target price on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Wells Fargo & Company lowered their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on 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 increased their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $243.64.

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.