LSV Asset Management Cuts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)
LSV Asset Management has reduced its stake in Reinsurance Group of America, Inc. (NYSE:RGA) by 1.9%, now holding 259,104 shares. Meanwhile, Covestor Ltd, Fiduciary Family Office LLC, GAMMA Investing LLC, Hilltop National Bank, and Private Advisor Group LLC have increased their holdings in RGA. The stock price has declined 1.9%, currently trading at $92.24, with a market cap of $5.98 billion. Recently, RGA reported earnings per share of $3.48 and increased its quarterly dividend to $0.89. Analysts have varied price targets for the stock, with Royal Bank of Canada maintaining an "outperform" rating.
LSV Asset Management reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,104 shares of the insurance provider's stock after selling 5,066 shares during the quarter. LSV Asset Management owned 0.39% of Reinsurance Group of America worth $53,186,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its position in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider's stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Fiduciary Family Office LLC lifted its position in shares of Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider's stock valued at $523,000 after buying an additional 76 shares in the last quarter. GAMMA Investing LLC grew its stake in Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 79 shares during the period. Hilltop National Bank increased its holdings in Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider's stock worth $145,000 after acquiring an additional 82 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Reinsurance Group of America by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider's stock worth $687,000 after acquiring an additional 92 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.
Reinsurance Group of America Stock Down 1.9 %
Shares of NYSE RGA opened at $212.24 on Monday. The stock has a market cap of $13.98 billion, a P/E ratio of 16.49 and a beta of 0.91. The business's fifty day simple moving average is $211.40 and its 200-day simple moving average is $200.81. Reinsurance Group of America, Incorporated has a 12-month low of $138.61 and a 12-month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $4.40 EPS. Reinsurance Group of America's revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal year.
Reinsurance Group of America Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.85. Reinsurance Group of America's payout ratio is presently 27.66%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Morgan Stanley lowered their price target on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Raymond James boosted their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a "strong-buy" rating in a research note on Friday, June 14th. Finally, Jefferies Financial Group lifted their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $223.33.
Read Our Latest Stock Analysis on RGA
About Reinsurance Group of America
(Free Report)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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