Reinsurance Group of America, Incorporated $RGA Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Reinsurance Group of America by 25.2%, selling 31,577 shares and retaining 93,606 shares valued at approximately $18.43 million.
• Reinsurance Group of America reported an EPS of $4.72 for the latest quarter, missing estimates of $5.58, while revenue was up 14.8% year-over-year at $5.60 billion.
• The company increased its quarterly dividend from $0.89 to $0.93 per share, representing an annualized yield of 1.9%.

The Manufacturers Life Insurance Company lowered its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 25.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,606 shares of the insurance provider's stock after selling 31,577 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of Reinsurance Group of America worth $18,431,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WPG Advisers LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at $80,000. State of Wyoming acquired a new stake in Reinsurance Group of America in the first quarter valued at $121,000. Trexquant Investment LP lifted its holdings in Reinsurance Group of America by 6.2% in the first quarter. Trexquant Investment LP now owns 45,086 shares of the insurance provider's stock valued at $8,877,000 after acquiring an additional 2,646 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its holdings in Reinsurance Group of America by 19.4% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 75,550 shares of the insurance provider's stock valued at $14,876,000 after acquiring an additional 12,300 shares during the period. Finally, PEAK6 LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at $3,267,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Trading Down 0.0%

Reinsurance Group of America stock opened at $194.71 on Wednesday. The stock has a market cap of $12.87 billion, a PE ratio of 16.90 and a beta of 0.59. The stock has a 50-day moving average price of $192.37 and a 200 day moving average price of $193.85. 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 current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

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 EPS for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.48 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. 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 32.29%.

Wall Street Analyst Weigh In

RGA has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Morgan Stanley cut 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 research note on Monday, August 18th. Finally, JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average target price of $242.27.

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.

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