Assenagon Asset Management S.A. Sells 83,719 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Assenagon Asset Management S.A. decreased its holdings in Reinsurance Group of America by 35.6%, now controlling about 0.23% of the company worth approximately $30 million.
• The firm recently increased its quarterly dividend from $0.89 to $0.93, reflecting a 2.0% yield on an annualized basis.
• Reinsurance Group of America reported Q2 earnings of $4.72 per share, missing estimates, with the company showing a revenue of $5.60 billion for the quarter.

Assenagon Asset Management S.A. cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 35.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,500 shares of the insurance provider's stock after selling 83,719 shares during the period. Assenagon Asset Management S.A. owned approximately 0.23% of Reinsurance Group of America worth $30,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RGA. Voloridge Investment Management LLC raised its stake in Reinsurance Group of America by 653.6% during the 4th quarter. Voloridge Investment Management LLC now owns 31,107 shares of the insurance provider's stock valued at $6,645,000 after purchasing an additional 26,979 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Reinsurance Group of America by 27.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 255,898 shares of the insurance provider's stock worth $54,667,000 after buying an additional 55,086 shares during the last quarter. Vise Technologies Inc. bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $219,000. Public Employees Retirement System of Ohio boosted its holdings in Reinsurance Group of America by 0.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 42,633 shares of the insurance provider's stock valued at $9,108,000 after acquiring an additional 113 shares during the period. Finally, Forum Financial Management LP grew its position in Reinsurance Group of America by 7.6% during the fourth quarter. Forum Financial Management LP now owns 1,836 shares of the insurance provider's stock worth $392,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of 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. Wells Fargo & Company dropped their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of 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 investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.27.

Reinsurance Group of America Trading Up 0.2%

Shares of RGA stock traded up $0.47 on Monday, hitting $187.03. The stock had a trading volume of 686,340 shares, compared to its average volume of 488,370. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The firm has a market cap of $12.36 billion, a P/E ratio of 16.23 and a beta of 0.59. 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 fifty day moving average price of $190.69 and a two-hundred day moving average price of $193.21.

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 (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 firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm earned $5.48 EPS. Reinsurance Group of America's quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

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.