Point72 Asia Singapore Pte. Ltd. Grows Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Point72 Asia Singapore Pte. Ltd. grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 181.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,978 shares of the insurance provider’s stock after purchasing an additional 2,564 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Reinsurance Group of America were worth $850,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Reinsurance Group of America by 19.2% in the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock valued at $38,895,000 after buying an additional 29,352 shares in the last quarter. Martin Capital Partners LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $1,788,000. Pacer Advisors Inc. raised its holdings in Reinsurance Group of America by 23.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock worth $3,077,000 after purchasing an additional 2,768 shares during the period. Versor Investments LP boosted its position in Reinsurance Group of America by 79.1% during the fourth quarter. Versor Investments LP now owns 11,256 shares of the insurance provider’s stock worth $2,405,000 after purchasing an additional 4,972 shares in the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in Reinsurance Group of America during the fourth quarter worth approximately $489,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 1.0%

Shares of Reinsurance Group of America stock opened at $204.43 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The stock’s 50 day simple moving average is $189.92 and its 200-day simple moving average is $206.90. The stock has a market cap of $13.51 billion, a P/E ratio of 19.03 and a beta of 0.57. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the previous year, the company posted $6.02 earnings per share. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. Analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 30.04%.

Analyst Ratings Changes

Several research analysts have recently weighed in on RGA shares. UBS Group reaffirmed a “neutral” rating and set a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Evercore ISI reduced their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Piper Sandler dropped their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.69.

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.