Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) shares were down 6.2% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $135.65 and last traded at $137.46. Approximately 39,411 shares changed hands during trading, a decline of 89% from the average daily volume of 359,648 shares. The stock had previously closed at $146.53.
The insurance provider reported $2.99 earnings per share for the quarter, missing analysts' consensus estimates of $3.51 by ($0.52). Reinsurance Group of America had a return on equity of 9.22% and a net margin of 3.54%. The company had revenue of $4.38 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the company posted ($0.56) EPS. The firm's revenue was up .4% compared to the same quarter last year.
Get Reinsurance Group of America alerts:Reinsurance Group of America Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, February 13th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 37.74%.
Analyst Ratings Changes
Several research firms recently commented on RGA. Royal Bank of Canada raised Reinsurance Group of America from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $145.00 to $170.00 in a report on Tuesday, December 6th. Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $145.00 to $160.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 10th. The Goldman Sachs Group upped their price objective on shares of Reinsurance Group of America from $147.00 to $162.00 and gave the company a "buy" rating in a research note on Monday, January 9th. Barclays upped their price objective on shares of Reinsurance Group of America from $138.00 to $148.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 8th. Finally, StockNews.com upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $150.89.Institutional Trading of Reinsurance Group of America
Several institutional investors and hedge funds have recently made changes to their positions in RGA. Vanguard Group Inc. increased its stake in Reinsurance Group of America by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,115,698 shares of the insurance provider's stock worth $895,227,000 after acquiring an additional 88,957 shares during the last quarter. State Street Corp increased its position in Reinsurance Group of America by 4.7% in the 1st quarter. State Street Corp now owns 2,411,086 shares of the insurance provider's stock valued at $263,917,000 after acquiring an additional 108,922 shares during the period. Massachusetts Financial Services Co. MA increased its position in Reinsurance Group of America by 7.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,670,053 shares of the insurance provider's stock valued at $210,109,000 after acquiring an additional 116,382 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Reinsurance Group of America by 9.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,543,545 shares of the insurance provider's stock valued at $181,042,000 after purchasing an additional 139,111 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Reinsurance Group of America by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,518,615 shares of the insurance provider's stock worth $191,056,000 after acquiring an additional 32,087 shares during the last quarter. 96.46% of the stock is currently owned by hedge funds and other institutional investors.
Reinsurance Group of America Stock Down 3.1 %
The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 16.20 and a beta of 0.91. The stock has a fifty day moving average of $143.52 and a 200-day moving average of $134.78. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.12.
About Reinsurance Group of America
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Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.
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