New Age Alpha Advisors LLC Sells 3,976 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• New Age Alpha Advisors LLC has decreased its holdings in Reinsurance Group of America by 10.8%, now owning 32,797 shares valued at approximately $6.46 million.
• Reinsurance Group of America reported earnings of $4.72 per share, falling short of the expected $5.58, while revenue reached $5.60 billion, a 14.8% increase from the previous year.
• The company plans to increase its quarterly dividend to $0.93 per share, marking a rise from the previous $0.89, with an annualized yield of 2.1%.

New Age Alpha Advisors LLC reduced its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 32,797 shares of the insurance provider's stock after selling 3,976 shares during the period. New Age Alpha Advisors LLC's holdings in Reinsurance Group of America were worth $6,458,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cordatus Wealth Management LLC increased its position in shares of Reinsurance Group of America by 3.1% in the first quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock valued at $331,000 after buying an additional 50 shares in the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock valued at $237,000 after buying an additional 56 shares during the period. Colonial Trust Co SC boosted its holdings in shares of 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 purchasing an additional 57 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake 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 buying an additional 60 shares during the last quarter. Finally, Trust Point Inc. grew its holdings in Reinsurance Group of America by 5.4% in the first quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock valued at $240,000 after purchasing an additional 62 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RGA shares. Keefe, Bruyette & Woods increased their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday. Morgan Stanley boosted their price objective on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Four 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 company currently has an average rating of "Moderate Buy" and an average target price of $243.64.

Reinsurance Group of America Price Performance

RGA stock traded up $4.60 during trading on Friday, hitting $186.51. 508,000 shares of the stock traded hands, compared to its average volume of 463,633. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 16.19 and a beta of 0.61. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $195.57 and a 200 day simple moving average of $197.58.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted 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 company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the firm earned $5.48 EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend 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 payout ratio is presently 32.29%.

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.