Wellington Management Group LLP Sells 11,001 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Wellington Management Group LLP reduced its stake in Reinsurance Group of America by 7.3%, owning 0.21% of the company, valued at $27.35 million after selling 11,001 shares.
• Reinsurance Group of America reported $4.72 earnings per share for the last quarter, missing estimates, and had a revenue of $5.60 billion, which was below expectations.
• The company announced an increased quarterly dividend of $0.93 per share with a yield of 1.9%, up from the previous dividend of $0.89.

Wellington Management Group LLP cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,922 shares of the insurance provider's stock after selling 11,001 shares during the period. Wellington Management Group LLP owned approximately 0.21% of Reinsurance Group of America worth $27,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in RGA. Walleye Capital LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter worth about $205,000. Hsbc Holdings PLC raised its position in shares of Reinsurance Group of America by 351.3% in the 4th quarter. Hsbc Holdings PLC now owns 47,994 shares of the insurance provider's stock worth $10,239,000 after acquiring an additional 37,359 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Reinsurance Group of America in the 4th quarter worth about $311,000. Price T Rowe Associates Inc. MD raised its position in shares of Reinsurance Group of America by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,043 shares of the insurance provider's stock worth $13,896,000 after acquiring an additional 6,339 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Reinsurance Group of America by 47.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,900 shares of the insurance provider's stock worth $406,000 after acquiring an additional 610 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RGA. Wells Fargo & Company lowered 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. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley decreased their target price 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. Finally, Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.27.

Reinsurance Group of America Stock Performance

RGA stock traded up $1.08 during midday trading on Friday, reaching $194.52. 110,959 shares of the company's stock traded hands, compared to its average volume of 449,892. The company has a 50-day moving average price of $192.54 and a two-hundred day moving average price of $194.01. 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, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The firm has a market capitalization of $12.86 billion, a PE ratio of 16.89 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued 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). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $5.48 EPS. The company's revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America's payout ratio is currently 32.29%.

Reinsurance Group of America Company 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.