Wealth Enhancement Advisory Services LLC Raises Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 54.4% in the 2nd quarter, now owning 13,558 shares valued at $2.68 million.
• Reinsurance Group of America recently raised its quarterly dividend to $0.93 per share, reflecting a yield of 1.9% and an annualized dividend of $3.72.
• The company reported $4.72 earnings per share for its last quarter, missing estimates, with revenue of $5.60 billion, up 14.8% year-over-year.

Wealth Enhancement Advisory Services LLC lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 54.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,558 shares of the insurance provider's stock after buying an additional 4,775 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Reinsurance Group of America were worth $2,682,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RGA. Alpine Bank Wealth Management acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC lifted its holdings 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 buying an additional 92 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings 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 buying an additional 121 shares during the last quarter. TCTC Holdings LLC lifted its holdings 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 buying an additional 89 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of 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 during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $191.05 on Friday. 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, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The business has a fifty day simple moving average of $190.27 and a 200 day simple moving average of $193.24. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 16.58 and a beta of 0.59.

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 for the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter in the prior year, the business posted $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is 32.29%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of research reports. 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 report on Tuesday, July 8th. Wells Fargo & Company reduced their price objective 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. Finally, Morgan Stanley decreased their target price on 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. 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 MarketBeat.com, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.50.

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.

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