Woodline Partners LP Reduces Stake in Reinsurance Group of America, Incorporated $RGA

Key Points

• Woodline Partners LP reduced its stake in Reinsurance Group of America by 7.4%, selling 13,508 shares and now owning 168,475 shares valued at $33,173,000.
• Reinsurance Group of America recently reported $4.72 EPS, missing the consensus estimate of $5.58, with a revenue of $5.60 billion for the quarter, below expectations.
• The company announced an increase in its quarterly dividend to $0.93 per share, representing a yield of 1.9% and a payout ratio of 32.29%.

Woodline Partners LP lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,475 shares of the insurance provider's stock after selling 13,508 shares during the period. Woodline Partners LP owned 0.25% of Reinsurance Group of America worth $33,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Dean Capital Management grew its holdings in shares of Reinsurance Group of America by 2.2% during the 1st quarter. Dean Capital Management now owns 9,170 shares of the insurance provider's stock worth $1,806,000 after purchasing an additional 201 shares during the period. United Services Automobile Association purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth $843,000. Sciencast Management LP purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth $293,000. Goldman Sachs Group Inc. grew its holdings in shares of Reinsurance Group of America by 44.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider's stock worth $43,554,000 after purchasing an additional 67,880 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Reinsurance Group of America by 1,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 12,083 shares of the insurance provider's stock worth $2,379,000 after purchasing an additional 11,383 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently 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 report on Tuesday, July 8th. Wells Fargo & Company decreased their target price 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. Finally, Morgan Stanley decreased 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 note on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Down 1.3%

NYSE RGA traded down $2.56 during trading hours on Friday, hitting $192.13. 330,932 shares of the company were exchanged, compared to its average volume of 309,763. The company has a 50 day moving average of $191.72 and a two-hundred day moving average of $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 52-week low of $159.25 and a 52-week high of $233.81. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 16.68 and a beta of 0.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly 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). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter last year, the company earned $5.48 EPS. Reinsurance Group of America's revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. 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 currently 32.29%.

Reinsurance Group of America 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.