Point72 DIFC Ltd Invests $1.90 Million in Reinsurance Group of America, Incorporated (NYSE:RGA)

Point72 DIFC Ltd purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 9,271 shares of the insurance provider’s stock, valued at approximately $1,903,000.

A number of other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth approximately $675,000. Price T Rowe Associates Inc. MD grew its stake in Reinsurance Group of America by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after purchasing an additional 26,306 shares during the period. Junto Capital Management LP bought a new position in Reinsurance Group of America in the fourth quarter worth $92,083,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Reinsurance Group of America by 50.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after buying an additional 2,524 shares during the period. Finally, Dean Capital Management boosted its holdings in shares of Reinsurance Group of America by 19.4% during the 4th quarter. Dean Capital Management now owns 10,086 shares of the insurance provider’s stock valued at $1,632,000 after buying an additional 1,636 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. UBS Group lifted their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. StockNews.com downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Raymond James lifted their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $225.17.

Reinsurance Group of America Trading Down 0.3 %

Shares of NYSE:RGA opened at $219.52 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1 year low of $140.39 and a 1 year high of $227.87. The company has a market cap of $14.46 billion, a P/E ratio of 17.06 and a beta of 0.91. The stock’s fifty day moving average price is $213.19 and its 200-day moving average price is $204.06.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the business earned $4.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.62%. This is a boost 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%.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by insiders.

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.