Renaissance Technologies LLC Purchases 23,700 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Renaissance Technologies LLC grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 128,600 shares of the insurance provider’s stock after acquiring an additional 23,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Reinsurance Group of America were worth $27,473,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Spire Wealth Management increased its position in Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 57 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth $44,000. Versant Capital Management Inc increased its holdings in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after buying an additional 80 shares during the last quarter. Private Trust Co. NA raised its position in shares of Reinsurance Group of America by 99.4% during the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after buying an additional 155 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $70,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RGA has been the topic of several analyst reports. Evercore ISI reduced their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. UBS Group reissued a “neutral” rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on shares of Reinsurance Group of America from $264.00 to $246.00 and set an “overweight” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.15.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $177.76 on Friday. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 16.55 and a beta of 0.70. The firm has a 50-day moving average of $193.93 and a two-hundred day moving average of $210.55. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 2.00%. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

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.