Teza Capital Management LLC Sells 1,415 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Teza Capital Management LLC has reduced its holdings in Reinsurance Group of America by 57.9%, owning only 1,028 shares worth approximately $202,000 after selling 1,415 shares in the first quarter.
• Numerous hedge funds have increased their positions in Reinsurance Group of America, with Deutsche Bank AG raising their stake by 106.2%, indicating strong institutional interest in the company.
• Reinsurance Group of America announced a quarterly dividend of $0.93, reflecting a positive increase from the previous dividend and a yield of 1.9%, with a payout ratio of 32.29%.

Teza Capital Management LLC cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 57.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,028 shares of the insurance provider's stock after selling 1,415 shares during the quarter. Teza Capital Management LLC's holdings in Reinsurance Group of America were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Reinsurance Group of America during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC increased its position in Reinsurance Group of America by 164.3% during the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares in the last quarter. TCTC Holdings LLC increased its position in Reinsurance Group of America by 107.2% during the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in Reinsurance Group of America by 357.1% during the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after purchasing an additional 175 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 1.3%

NYSE RGA traded down $2.56 on Friday, hitting $192.13. The company's stock had a trading volume of 330,932 shares, compared to its average volume of 309,763. The company's 50-day moving average is $191.72 and its 200 day moving average is $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. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The firm has a market cap of $12.70 billion, a PE ratio of 16.68 and a beta of 0.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted 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 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 posted $5.48 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is currently 32.29%.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley lowered their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. 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 research report on Monday, August 4th. Finally, Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.