Jones Financial Companies Lllp Increases Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Reinsurance Group of America by 1,626.1%, acquiring an additional 11,383 shares to reach a total of 12,083 shares.
• Analysts have mixed views on Reinsurance Group of America's stock, with JPMorgan raising its target price to $264.00 while Morgan Stanley lowered it to $195.00, contributing to a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend increase from $0.89 to $0.93, resulting in an annualized dividend yield of 1.9%.

Jones Financial Companies Lllp grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1,626.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,083 shares of the insurance provider's stock after acquiring an additional 11,383 shares during the quarter. Jones Financial Companies Lllp's holdings in Reinsurance Group of America were worth $2,379,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $620,000. Petrus Trust Company LTA boosted its position in shares of Reinsurance Group of America by 78.9% in the 1st quarter. Petrus Trust Company LTA now owns 2,211 shares of the insurance provider's stock valued at $435,000 after purchasing an additional 975 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $370,000. Millennium Management LLC boosted its position in shares of Reinsurance Group of America by 37.3% in the 1st quarter. Millennium Management LLC now owns 300,059 shares of the insurance provider's stock valued at $59,082,000 after purchasing an additional 81,464 shares during the period. Finally, Hancock Whitney Corp boosted its position in shares of Reinsurance Group of America by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 82,602 shares of the insurance provider's stock valued at $16,264,000 after purchasing an additional 2,371 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

NYSE RGA traded down $0.48 during mid-day trading on Wednesday, hitting $186.42. The stock had a trading volume of 398,813 shares, compared to its average volume of 446,730. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 16.19 and a beta of 0.59. The company has a 50 day simple moving average of $191.39 and a 200 day simple moving average of $193.42. 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 (NYSE:RGA - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.48 EPS. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a yield of 2.0%. Reinsurance Group of America's dividend payout ratio (DPR) is 32.29%.

Analyst Ratings Changes

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