Reinsurance Group of America, Incorporated $RGA Holdings Lowered by Earnest Partners LLC

Key Points

• Earnest Partners LLC has reduced its stake in Reinsurance Group of America by 0.9%, now owning 2,513,496 shares, making it the largest position in its portfolio, valued at approximately $494.9 million.
• Despite some hedge funds increasing their positions in Reinsurance Group of America, institutional investors own 95.11% of the company's stock, indicating strong institutional interest.
• The company recently increased its quarterly dividend from $0.89 to $0.93 per share, representing a yield of 1.9%, reflecting a commitment to returning value to shareholders.

Earnest Partners LLC lessened its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,513,496 shares of the insurance provider's stock after selling 23,735 shares during the quarter. Reinsurance Group of America makes up about 2.4% of Earnest Partners LLC's holdings, making the stock its largest position. Earnest Partners LLC owned about 3.80% of Reinsurance Group of America worth $494,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC raised its stake in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $28,000. Golden State Wealth Management LLC grew 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 purchasing an additional 92 shares during the period. TCTC Holdings LLC grew its holdings in Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings in Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RGA. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley decreased their price target 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. 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, August 4th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Trading Up 0.7%

NYSE RGA opened at $192.40 on Wednesday. The firm has a market capitalization of $12.72 billion, a PE ratio of 16.70 and a beta of 0.61. The company has a 50-day simple moving average of $192.60 and a 200-day simple moving average of $194.06. 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 debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its 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). The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $5.48 earnings per share. On average, equities analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.