Castle Hook Partners LP Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Castle Hook Partners LP acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,287 shares of the insurance provider's stock, valued at approximately $25,270,000. Castle Hook Partners LP owned about 0.18% of Reinsurance Group of America as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RGA. Spire Wealth Management raised its stake in Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 57 shares during the period. SBI Securities Co. Ltd. bought a new position in Reinsurance Group of America during the fourth quarter valued at $44,000. Versant Capital Management Inc lifted its stake in Reinsurance Group of America by 38.1% in the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider's stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Private Trust Co. NA lifted its stake 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 worth $66,000 after acquiring an additional 155 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Reinsurance Group of America in the fourth quarter worth about $70,000. Institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 1.5 %

Reinsurance Group of America stock traded up $2.95 during trading on Friday, reaching $205.01. 471,379 shares of the company's stock were exchanged, compared to its average volume of 405,329. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The company's 50-day moving average is $188.89 and its two-hundred day moving average is $207.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 19.09 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The business's revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.02 earnings per share. On average, analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, May 13th. Reinsurance Group of America's payout ratio is currently 30.04%.

Wall Street Analysts Forecast Growth

RGA has been the subject of several recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. UBS Group reiterated a "neutral" rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Morgan Stanley dropped their target price on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Three equities research 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $230.69.

About Reinsurance Group of America

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.