Russell Investments Group Ltd. Purchases 4,589 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Russell Investments Group Ltd. increased its stake in Reinsurance Group of America by 1.7%, owning 277,331 shares worth $54.6 million after purchasing an additional 4,589 shares.
• Reinsurance Group of America reported earnings per share of $4.72 for the last quarter, missing analysts' estimates of $5.58, though revenue increased by 14.8% year-over-year.
• The company announced a quarterly dividend increase from $0.89 to $0.93 per share, representing a 2.0% dividend yield, with a payout ratio of 32.29%.

Russell Investments Group Ltd. boosted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,331 shares of the insurance provider's stock after purchasing an additional 4,589 shares during the quarter. Russell Investments Group Ltd. owned about 0.42% of Reinsurance Group of America worth $54,607,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Prudential PLC boosted its stake in shares of Reinsurance Group of America by 164.1% in the first quarter. Prudential PLC now owns 43,472 shares of the insurance provider's stock valued at $8,560,000 after buying an additional 27,013 shares in the last quarter. AIA Group Ltd grew its position in Reinsurance Group of America by 29.7% during the first quarter. AIA Group Ltd now owns 3,964 shares of the insurance provider's stock valued at $781,000 after acquiring an additional 908 shares during the period. SouthState Corp purchased a new stake in shares of Reinsurance Group of America during the first quarter worth about $48,000. Nuveen LLC bought a new stake in Reinsurance Group of America during the 1st quarter valued at $69,092,000. Finally, Entropy Technologies LP acquired a new position in shares of Reinsurance Group of America during the 1st quarter valued at $2,695,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on RGA. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Morgan Stanley set a $195.00 target price on Reinsurance Group of America and gave the stock an "equal weight" rating in a research report on Monday. Wells Fargo & Company decreased 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 research report on Monday, August 4th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Performance

RGA stock traded down $0.62 during mid-day trading on Monday, hitting $187.56. The company had a trading volume of 121,787 shares, compared to its average volume of 458,528. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The firm has a market cap of $12.40 billion, a PE ratio of 16.27 and a beta of 0.61. 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's fifty day moving average price is $193.71 and its two-hundred day moving average price is $195.51.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, July 31st. The insurance provider reported $4.72 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 firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company earned $5.48 EPS. The firm's revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend 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.