Point72 Hong Kong Ltd Trims Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Point72 Hong Kong Ltd reduced its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 50.6% during the third quarter, Holdings Channel.com reports. The fund owned 4,120 shares of the insurance provider’s stock after selling 4,222 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Reinsurance Group of America were worth $898,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new stake in Reinsurance Group of America in the third quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth $29,000. Private Trust Co. NA grew its position in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Wolff Wiese Magana LLC bought a new position in Reinsurance Group of America in the third quarter valued at $34,000. Institutional investors own 95.11% of the company’s stock.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Down 0.5 %

NYSE RGA opened at $228.40 on Monday. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The stock has a market capitalization of $15.04 billion, a PE ratio of 20.97 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business’s 50-day moving average is $220.25 and its 200 day moving average is $213.76.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $5.57 EPS. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RGA shares. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Barclays upped their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Raymond James lifted their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $227.77.

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.