Royal Bank of Canada Has $16.35 Million Stock Holdings in Reinsurance Group of America, Incorporated $RGA

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 lifted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 26.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,034 shares of the insurance provider's stock after purchasing an additional 17,242 shares during the period. Royal Bank of Canada owned about 0.13% of Reinsurance Group of America worth $16,351,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RGA. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 1.3% in the first quarter. WCM Investment Management LLC now owns 2,514,042 shares of the insurance provider's stock worth $492,400,000 after acquiring an additional 33,292 shares in the last quarter. American Century Companies Inc. increased its position in shares of 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 worth $297,699,000 after acquiring an additional 611,226 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Reinsurance Group of America by 17.4% in the first quarter. Dimensional Fund Advisors LP now owns 928,998 shares of the insurance provider's stock worth $182,909,000 after acquiring an additional 137,620 shares in the last quarter. Northern Trust Corp increased its position in shares of Reinsurance Group of America by 2.6% in the first quarter. Northern Trust Corp now owns 716,782 shares of the insurance provider's stock worth $141,134,000 after acquiring an additional 18,182 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Reinsurance Group of America by 2.2% in the first quarter. Douglas Lane & Associates LLC now owns 578,602 shares of the insurance provider's stock worth $113,927,000 after acquiring an additional 12,576 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Down 1.3%

Shares of RGA stock traded down $2.56 during trading on Friday, hitting $192.13. 330,932 shares of the company were exchanged, compared to its average volume of 309,763. 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 firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 16.68 and a beta of 0.59. The business's 50-day simple moving average is $191.72 and its 200 day simple moving average is $193.61. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month 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. As a group, analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RGA shares. JPMorgan Chase & Co. lifted 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 research report on Tuesday, July 8th. Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Wells Fargo & Company decreased their price target 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, Morgan Stanley decreased 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 report on Monday, August 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

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.