42,185 Shares in Reinsurance Group of America, Incorporated $RGA Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,185 shares of the insurance provider’s stock, valued at approximately $8,971,000. Squarepoint Ops LLC owned 0.06% of Reinsurance Group of America as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Tobam boosted its holdings in shares of Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America in the fourth quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the third quarter worth about $38,000. Entrust Financial LLC purchased a new position in Reinsurance Group of America during the fourth quarter worth about $40,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Reinsurance Group of America in the 3rd quarter worth about $44,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RGA shares. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, TD Cowen lifted their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.56.

Reinsurance Group of America Stock Up 0.9%

RGA opened at $247.30 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $178.21 and a 1 year high of $257.81. The firm has a 50 day moving average price of $241.08 and a 200 day moving average price of $219.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $16.15 billion, a PE ratio of 10.86 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the firm posted $4.72 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 29.22 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.98 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is presently 17.22%.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.