Sciencast Management LP Takes 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 purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,489 shares of the insurance provider's stock, valued at approximately $293,000.

A number of other large investors also recently made changes to their positions in the business. Cordatus Wealth Management LLC lifted its stake in shares of Reinsurance Group of America by 3.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock worth $331,000 after purchasing an additional 50 shares during the period. Journey Strategic Wealth LLC lifted its stake in shares of Reinsurance Group of America by 4.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock worth $237,000 after purchasing an additional 56 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Reinsurance Group of America by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock worth $2,649,000 after purchasing an additional 60 shares during the period. Trust Point Inc. lifted its stake in shares of Reinsurance Group of America by 5.4% during the 1st quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock worth $240,000 after purchasing an additional 62 shares during the period. Finally, Mount Lucas Management LP lifted its stake in shares of Reinsurance Group of America by 3.6% during the 1st quarter. Mount Lucas Management LP now owns 2,223 shares of the insurance provider's stock worth $438,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on RGA shares. JPMorgan Chase & Co. increased their price target 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. Wells Fargo & Company reduced their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note 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. Finally, Morgan Stanley cut their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research 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 stock. According to data from MarketBeat, Reinsurance Group of America has an average rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded down $0.13 on Monday, hitting $192.07. 70,865 shares of the stock traded hands, compared to its average volume of 443,646. The company's fifty day moving average is $191.72 and its 200 day moving average is $193.56. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a market capitalization of $12.69 billion, a PE ratio of 16.67 and a beta of 0.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $5.48 earnings per share. The company's quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research 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 announced 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 represents a $3.72 annualized dividend and a dividend yield of 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. 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.