11,183 Shares in Reinsurance Group of America, Incorporated $RGA Purchased by Strs Ohio

Key Points

• Strs Ohio made a new $2.20 million investment in Reinsurance Group of America by purchasing 11,183 shares, reflecting growing institutional interest in the company.
• Reinsurance Group of America reported a quarterly EPS of $4.72, missing expectations of $5.58, despite a 14.8% year-over-year increase in revenue, totaling $5.60 billion.
• The company recently increased its quarterly dividend to $0.93 per share, yielding 2.0%, up from the previous $0.89.

Strs Ohio bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,183 shares of the insurance provider's stock, valued at approximately $2,202,000.

Several other large investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its holdings in Reinsurance Group of America by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider's stock valued at $76,000 after buying an additional 58 shares during the last quarter. Focus Partners Wealth increased its holdings in Reinsurance Group of America by 121.2% in the first quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider's stock valued at $527,000 after buying an additional 1,466 shares during the last quarter. Jane Street Group LLC increased its holdings in Reinsurance Group of America by 939.8% in the first quarter. Jane Street Group LLC now owns 73,513 shares of the insurance provider's stock valued at $14,475,000 after buying an additional 66,443 shares during the last quarter. Bayforest Capital Ltd increased its holdings in Reinsurance Group of America by 110.7% in the first quarter. Bayforest Capital Ltd now owns 1,146 shares of the insurance provider's stock valued at $226,000 after buying an additional 602 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Reinsurance Group of America by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 291,143 shares of the insurance provider's stock valued at $57,326,000 after buying an additional 35,245 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Trading Down 1.3%

Shares of RGA traded down $2.39 during mid-day trading on Friday, reaching $186.21. The company had a trading volume of 1,400,839 shares, compared to its average volume of 432,546. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 16.16 and a beta of 0.59. The firm has a fifty day simple moving average of $190.89 and a 200-day simple moving average of $193.25. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

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 for the quarter, missing the consensus estimate of $5.58 by ($0.86). The business had revenue of $5.60 billion for 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%. The business's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.48 EPS. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.29%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock 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. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley dropped their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock 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's stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and a consensus target price 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.