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

Point72 Europe London LLP lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) 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 have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Reinsurance Group of America in the second quarter valued at about $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 purchasing an additional 442,883 shares during the last quarter. Point72 Asset Management LP raised its stake in Reinsurance Group of America by 27.9% in the second quarter. Point72 Asset Management LP now owns 164,046 shares of the insurance provider’s stock worth $33,674,000 after purchasing an additional 35,750 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Reinsurance Group of America by 66.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,486 shares of the insurance provider’s stock valued at $1,742,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Reinsurance Group of America in the second quarter valued at about $1,903,000. 95.11% of shares are currently owned by institutional investors.

Insiders place their bets

In other news, EVP William L. Hutton sold 1,209 shares of the company’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 filing with the SEC, which is accessible via this link. 1.37% of shares are owned by corporate insiders.

The Wall Street analyst weighs in

A number of analysts recently weighed in on RGA shares. Evercore ISI upped 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 target price 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 boosted their price target 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. The stock has a consensus rating of “Moderate Buy” and an average target price of $225.17, according to MarketBeat.com.

Check out the latest stock analysis on RGA

Americas Reinsurance Group 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 cap of $14.46 billion, a PE ratio of 17.06 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA – Get Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping 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 company 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 EPS of $4.40. The company’s revenue increased by 17.4% year-on-year. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America increased dividends

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 an annualized dividend of $3.56 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 9. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Reinsurance Group of America Profile

(Free Report)

Reinsurance Group of America, Incorporated is engaged in the business of reinsurance. The company offers individual and group life and health insurance products such as term life, credit, universal life, whole life, group life and health, joint and last survivor , of critical illness, disability and longevity; financial and asset-intensive reinsurance products; and other capital driven solutions.

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