Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 81.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,500 shares of the insurance provider’s stock after purchasing an additional 44,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.15% of Reinsurance Group of America worth $20,424,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Pineridge Advisors LLC acquired a new stake in Reinsurance Group of America during the fourth quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the second quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $29,000. Finally, Family Firm Inc. acquired a new stake in Reinsurance Group of America during the second quarter worth approximately $29,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGA has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays began coverage on shares of Reinsurance Group of America in a research report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 target price on the stock. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Citigroup increased their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.33.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $219.62 on Friday. The company’s fifty day simple moving average is $212.96 and its 200-day simple moving average is $203.22. Reinsurance Group of America, Incorporated has a 52 week low of $140.39 and a 52 week 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. The company has a market cap of $14.45 billion, a PE ratio of 17.06 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the firm posted $4.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 27.66%.

Reinsurance Group of America 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.