Point72 Europe London LLP Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Point72 Europe London LLP cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 52,914 shares of the insurance provider’s stock after selling 5,014 shares during the period. Point72 Europe London LLP’s holdings in Reinsurance Group of America were worth $10,862,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $1,712,000. Zurich Insurance Group Ltd FI grew its position in Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Reinsurance Group of America by 27.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 164,046 shares of the insurance provider’s stock worth $33,674,000 after acquiring an additional 35,750 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Reinsurance Group of America by 66.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,486 shares of the insurance provider’s stock valued at $1,742,000 after acquiring an additional 3,388 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Reinsurance Group of America in the second quarter valued at approximately $1,903,000. 95.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RGA shares. Evercore ISI boosted their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Royal Bank of Canada boosted their price target on shares of 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. StockNews.com downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company increased their target price on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Piper Sandler lifted their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.17.

Reinsurance Group of America Price Performance

RGA opened at $219.52 on Wednesday. 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 debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50 day moving average price is $213.19 and its 200-day moving average price is $204.06. The stock has a market capitalization of $14.46 billion, a PE ratio of 17.06 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the firm posted $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.89 dividend. 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. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is presently 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.