Woodline Partners LP Cuts Stock Holdings 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 decreased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 168,475 shares of the insurance provider's stock after selling 13,508 shares during the quarter. Woodline Partners LP owned about 0.25% of Reinsurance Group of America worth $33,173,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC raised its holdings in Reinsurance Group of America by 3.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider's stock worth $331,000 after purchasing an additional 50 shares during the last quarter. Journey Strategic Wealth LLC raised its holdings in Reinsurance Group of America by 4.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock worth $237,000 after purchasing an additional 56 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Reinsurance Group of America by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider's stock worth $2,649,000 after purchasing an additional 60 shares during the last quarter. Trust Point Inc. raised its holdings in Reinsurance Group of America by 5.4% during the 1st quarter. Trust Point Inc. now owns 1,219 shares of the insurance provider's stock worth $240,000 after purchasing an additional 62 shares during the last quarter. Finally, Mount Lucas Management LP raised its holdings in Reinsurance Group of America by 3.6% during the 1st quarter. Mount Lucas Management LP now owns 2,223 shares of the insurance provider's stock worth $438,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 0.0%

NYSE RGA traded up $0.07 during mid-day trading on Monday, hitting $192.27. The company's stock had a trading volume of 95,069 shares, compared to its average volume of 443,817. The company's 50 day simple moving average is $191.72 and its 200 day simple moving average is $193.56. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month 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. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 16.69 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.Reinsurance Group of America's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.48 earnings per share. 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 company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is presently 32.29%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of 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 lowered their price objective on shares of 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. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, 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 note on Monday, August 18th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $242.27.

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.