Lecap Asset Management Ltd. Trims Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Lecap Asset Management Ltd. lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 44.9% in the second quarter, HoldingsChannel reports. The fund owned 6,612 shares of the insurance provider’s stock after selling 5,386 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Reinsurance Group of America were worth $1,312,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RGA. Cordatus Wealth Management LLC boosted its position 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 acquiring an additional 50 shares during the period. Journey Strategic Wealth LLC lifted its holdings in shares of Reinsurance Group of America by 4.9% in the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock valued at $237,000 after buying an additional 56 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Reinsurance Group of America by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Reinsurance Group of America by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider’s stock valued at $2,649,000 after buying an additional 60 shares during the period. Finally, Oakworth Capital Inc. lifted its holdings in shares of Reinsurance Group of America by 32.4% in the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after buying an additional 60 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Up 0.6%

NYSE:RGA opened at $193.24 on Thursday. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 16.77 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year 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 business’s fifty day moving average price is $190.09 and its 200 day moving average price is $193.26.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results 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 company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company posted $5.48 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio is 32.29%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Morgan Stanley cut 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 report on Monday, August 18th. Finally, Wells Fargo & Company cut 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 report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.50.

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.