Cubist Systematic Strategies LLC Buys 27,654 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Cubist Systematic Strategies LLC grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 102.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,724 shares of the insurance provider’s stock after purchasing an additional 27,654 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Reinsurance Group of America were worth $6,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RGA. Amundi Pioneer Asset Management Inc. raised its position in shares of Reinsurance Group of America by 9.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 24,507 shares of the insurance provider’s stock valued at $3,479,000 after purchasing an additional 2,077 shares during the period. Public Employees Retirement System of Ohio increased its position in Reinsurance Group of America by 19.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 41,321 shares of the insurance provider’s stock worth $4,789,000 after acquiring an additional 6,699 shares during the period. Stifel Financial Corp increased its position in Reinsurance Group of America by 4.6% during the fourth quarter. Stifel Financial Corp now owns 19,736 shares of the insurance provider’s stock worth $2,287,000 after acquiring an additional 870 shares during the period. Charles Schwab Investment Management Inc. increased its position in Reinsurance Group of America by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 352,008 shares of the insurance provider’s stock worth $40,798,000 after acquiring an additional 9,217 shares during the period. Finally, Schroder Investment Management Group increased its position in Reinsurance Group of America by 12.3% during the fourth quarter. Schroder Investment Management Group now owns 669,457 shares of the insurance provider’s stock worth $77,590,000 after acquiring an additional 73,494 shares during the period. 93.32% of the stock is currently owned by institutional investors.

RGA opened at $110.45 on Thursday. The firm has a 50 day moving average of $119.61. Reinsurance Group of America, Incorporated has a 1-year low of $83.08 and a 1-year high of $134.93. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.51 billion, a P/E ratio of 22.68 and a beta of 1.21.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 6th. The insurance provider reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.98). Reinsurance Group of America had a net margin of 4.14% and a return on equity of 2.47%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 7.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Tuesday, May 18th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, May 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.54%. Reinsurance Group of America’s payout ratio is currently 37.14%.

RGA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $137.00 to $138.00 in a research report on Monday, July 12th. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $118.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Monday, May 10th. TheStreet raised shares of Reinsurance Group of America from a “c” rating to a “b-” rating in a report on Thursday, May 6th. Morgan Stanley raised their target price on shares of Reinsurance Group of America from $125.00 to $127.00 and gave the company an “underweight” rating in a report on Thursday, July 15th. Finally, decreased their target price on shares of Reinsurance Group of America from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, June 21st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $126.20.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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