Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Position Raised by Prudential PLC

Key Points

• Prudential PLC has increased its stake in Reinsurance Group of America by 164.1% during the first quarter, owning approximately 43,472 shares worth $8.56 million as of the latest SEC filing.
• Reinsurance Group of America reported earnings of $4.72 per share for the quarter, missing consensus estimates of $5.58, while revenue was $5.60 billion, below the expected $5.70 billion.
• The company announced an increase in its quarterly dividend from $0.89 to $0.93, with a yield of 2.0%, expected to be paid on August 26th to record investors.

Prudential PLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 164.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,472 shares of the insurance provider's stock after acquiring an additional 27,013 shares during the period. Prudential PLC owned about 0.07% of Reinsurance Group of America worth $8,560,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RGA. Colonial Trust Co SC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 57 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $28,000. Golden State Wealth Management LLC increased its holdings in shares of 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. TCTC Holdings LLC increased its holdings in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 0.4%

NYSE RGA traded down $0.78 on Friday, hitting $188.44. 360,567 shares of the stock traded hands, compared to its average volume of 460,769. The stock has a 50-day moving average of $193.71 and a 200 day moving average of $195.99. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company has a market capitalization of $12.45 billion, a P/E ratio of 16.36 and a beta of 0.61. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly 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). The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.48 earnings per share. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 annualized dividend and a yield of 2.0%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is 32.29%.

Analyst Upgrades and Downgrades

RGA has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted 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. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley raised their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company dropped 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.64.

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.