Vestmark Advisory Solutions Inc. Raises Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in Reinsurance Group of America by 309.4%, owning 4,774 shares valued at approximately $940,000.
• Reinsurance Group of America reported a miss in its earnings per share for the latest quarter, with an EPS of $4.72 against estimates of $5.58, while revenue was also below expectations at $5.60 billion.
• The company announced an increase in its quarterly dividend to $0.93 per share, resulting in an annual yield of 2.0%, marking a positive change from the previous dividend of $0.89.

Vestmark Advisory Solutions Inc. grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 309.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,774 shares of the insurance provider's stock after acquiring an additional 3,608 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Reinsurance Group of America were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Townsquare Capital LLC lifted its position in shares of Reinsurance Group of America by 24.8% in the fourth quarter. Townsquare Capital LLC now owns 2,263 shares of the insurance provider's stock worth $483,000 after buying an additional 450 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $205,000. Marshall Wace LLP purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $3,712,000. Commerce Bank lifted its position in shares of Reinsurance Group of America by 8.9% in the fourth quarter. Commerce Bank now owns 4,066 shares of the insurance provider's stock worth $869,000 after buying an additional 333 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of Reinsurance Group of America by 9.4% in the fourth quarter. GeoWealth Management LLC now owns 1,882 shares of the insurance provider's stock worth $402,000 after buying an additional 161 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Trading Up 1.8%

NYSE:RGA traded up $3.4040 during midday trading on Friday, hitting $194.7540. The stock had a trading volume of 59,753 shares, compared to its average volume of 454,600. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 16.94 and a beta of 0.61. The stock has a 50-day moving average of $192.86 and a 200 day moving average of $194.91. 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 (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $5.70 billion. During the same period last year, the company earned $5.48 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.93 per share. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RGA. Wells Fargo & Company reduced their price objective 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 reissued a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Morgan Stanley reduced 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 research note on Monday. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.