Sciencast Management LP Buys New Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Sciencast Management LP invested approximately $293,000 in Reinsurance Group of America by purchasing 1,489 shares during the first quarter.
• Analyst ratings are mixed, with JPMorgan Chase lifting the price target to $264 and Morgan Stanley reducing it to $195, indicating varied expectations for the stock's performance.
• Reinsurance Group of America recently increased its quarterly dividend to $0.93 per share, reflecting a positive change from the previous $0.89, with a current yield of 1.9%.

Sciencast Management LP bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,489 shares of the insurance provider's stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC lifted its position in 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 purchasing an additional 33,292 shares during the period. American Century Companies Inc. raised its stake in Reinsurance Group of America by 67.9% during 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. Alliancebernstein L.P. raised its stake in Reinsurance Group of America by 3.2% during the first quarter. Alliancebernstein L.P. now owns 1,158,803 shares of the insurance provider's stock worth $228,168,000 after acquiring an additional 35,781 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Reinsurance Group of America by 17.4% during 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. Finally, Northern Trust Corp raised its stake in Reinsurance Group of America by 2.6% during 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. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Down 1.3%

RGA stock traded down $2.56 during midday trading on Friday, reaching $192.13. The stock had a trading volume of 330,932 shares, compared to its average volume of 309,763. The business has a fifty day simple moving average of $191.72 and a two-hundred day simple moving average of $193.61. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 16.68 and a beta of 0.59. 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 announced 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). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $5.48 earnings per share. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.29%.

Wall Street Analyst Weigh In

RGA has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley dropped their price objective 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. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, Wells Fargo & Company lowered their target price 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. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $242.27.

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.