Reinsurance Group of America, Incorporated $RGA Shares Acquired by Royal Bank of Canada

Key Points

• The Royal Bank of Canada increased its stake in Reinsurance Group of America by 26.2%, owning a total of 83,034 shares valued at approximately $16.35 million as of the latest SEC filing.
• Reinsurance Group of America reported a quarterly EPS of $4.72, missing analysts' expectations of $5.58, while its quarterly revenue was $5.60 billion, slightly below the forecast of $5.70 billion.
• The company increased its quarterly dividend to $0.93 per share from the previous $0.89, reflecting an annualized dividend yield of 1.9%.

Royal Bank of Canada increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,034 shares of the insurance provider's stock after acquiring an additional 17,242 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of Reinsurance Group of America worth $16,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Graham Capital Management L.P. grew its holdings in shares of Reinsurance Group of America by 54.4% during the first quarter. Graham Capital Management L.P. now owns 63,631 shares of the insurance provider's stock worth $12,529,000 after buying an additional 22,406 shares in the last quarter. Quarry LP grew its holdings in shares of Reinsurance Group of America by 424.6% during the first quarter. Quarry LP now owns 598 shares of the insurance provider's stock worth $118,000 after buying an additional 484 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Reinsurance Group of America by 8.0% during the first quarter. Vident Advisory LLC now owns 8,132 shares of the insurance provider's stock worth $1,601,000 after buying an additional 601 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter worth $80,000. Finally, State of Wyoming purchased a new stake in shares of Reinsurance Group of America during the first quarter worth $121,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RGA. JPMorgan Chase & Co. upped their target price 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. 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 for the company in a report on Monday, August 4th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, 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 for the company in a report on Monday, August 18th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Trading Down 1.5%

Shares of Reinsurance Group of America stock traded down $2.95 on Monday, reaching $189.25. The company had a trading volume of 535,134 shares, compared to its average volume of 308,282. The firm's 50 day moving average price is $191.61 and its two-hundred day moving average price is $193.46. The firm has a market cap of $12.51 billion, a PE ratio of 16.43 and a beta of 0.59. 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 debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

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 (EPS) for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm posted $5.48 earnings per share. Sell-side 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America's payout ratio is presently 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.