Reinsurance Group of America (NYSE:RGA) Shares Gap Down Following Weak Earnings

Reinsurance Group of America, Incorporated (NYSE:RGA) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $230.49, but opened at $214.19. Reinsurance Group of America shares last traded at $214.62, with a volume of 308,741 shares changing hands.

The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.89 per share. The ex-dividend date is Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 1.71%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RGA shares. Barclays cut their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lifted their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $228.31.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Reinsurance Group of America during the fourth quarter worth about $48,724,000. JPMorgan Chase & Co. increased its position in shares of Reinsurance Group of America by 47.7% during the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after acquiring an additional 117,829 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Reinsurance Group of America by 2,791.1% in the 4th quarter. CIBC Asset Management Inc now owns 67,884 shares of the insurance provider’s stock valued at $14,502,000 after acquiring an additional 65,536 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Reinsurance Group of America in the 3rd quarter worth approximately $11,803,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day moving average is $219.12 and its two-hundred day moving average is $217.48. The stock has a market cap of $13.75 billion, a PE ratio of 19.16 and a beta of 0.93.

About Reinsurance Group of America

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.