Point72 Asset Management L.P. Has $40.77 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Point72 Asset Management L.P. grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,112 shares of the insurance provider's stock after acquiring an additional 23,066 shares during the quarter. Point72 Asset Management L.P. owned 0.28% of Reinsurance Group of America worth $40,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its position in shares of Reinsurance Group of America by 15.7% in the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider's stock valued at $25,297,000 after acquiring an additional 15,289 shares during the period. M&G Plc raised its stake in shares of Reinsurance Group of America by 5.0% in the second quarter. M&G Plc now owns 85,153 shares of the insurance provider's stock valued at $17,456,000 after purchasing an additional 4,025 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Reinsurance Group of America in the second quarter valued at $1,925,000. Insight Wealth Strategies LLC acquired a new position in shares of Reinsurance Group of America in the third quarter valued at $3,548,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Reinsurance Group of America by 23.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider's stock valued at $6,527,000 after purchasing an additional 6,144 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada upped their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Morgan Stanley cut their target price on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. StockNews.com upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Finally, TD Cowen started coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a "hold" rating and a $235.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of "Moderate Buy" and an average price target of $227.77.

Reinsurance Group of America Trading Down 0.6 %

Reinsurance Group of America stock traded down $1.31 during mid-day trading on Thursday, hitting $221.53. The stock had a trading volume of 291,914 shares, compared to its average volume of 354,861. The stock has a 50-day simple moving average of $220.67 and a two-hundred day simple moving average of $214.09. The stock has a market capitalization of $14.59 billion, a PE ratio of 20.34 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter last year, the business earned $5.57 earnings per share. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.69%.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was 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 of the company's stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.37% of the company's stock.

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.