Reinsurance Group of America, Incorporated $RGA Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Reinsurance Group of America by 16% during the 2nd quarter, leaving them with 7,980 shares valued at approximately $1.58 million.
• The company reported earnings per share (EPS) of $4.72 for the last quarter, falling short of analyst expectations of $5.58, despite a 14.8% increase in year-over-year revenue.
• RGA has recently increased its quarterly dividend from $0.89 to $0.93, reflecting a positive trend in shareholder returns with a current dividend yield of 1.9%.

Janney Montgomery Scott LLC cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,980 shares of the insurance provider's stock after selling 1,516 shares during the period. Janney Montgomery Scott LLC's holdings in Reinsurance Group of America were worth $1,583,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RGA. American Century Companies Inc. raised its holdings in Reinsurance Group of America by 67.9% in the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider's stock valued at $297,699,000 after acquiring an additional 611,226 shares in the last quarter. Nuveen LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at $69,092,000. Bahl & Gaynor Inc. acquired a new stake in Reinsurance Group of America in the first quarter valued at $55,375,000. AQR Capital Management LLC raised its holdings in Reinsurance Group of America by 66.5% in the first quarter. AQR Capital Management LLC now owns 616,946 shares of the insurance provider's stock valued at $119,687,000 after acquiring an additional 246,361 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Reinsurance Group of America by 256.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 326,257 shares of the insurance provider's stock valued at $64,240,000 after acquiring an additional 234,780 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

RGA stock opened at $191.79 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $12.68 billion, a P/E ratio of 16.65 and a beta of 0.60. The firm has a 50 day simple moving average of $190.72 and a 200 day simple moving average of $193.28. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America's revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.48 earnings per share. Research analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of 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. Barclays reissued an "overweight" rating and set a $246.00 target price on shares of Reinsurance Group of America in a report on Wednesday. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Reinsurance Group of America in a report on Wednesday. Finally, Piper Sandler reissued an "overweight" rating on shares of Reinsurance Group of America in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $241.56.

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.

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report).

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.