Jane Street Group LLC Boosts Stake in Reinsurance Group of America, Incorporated $RGA

Key Points

• Jane Street Group LLC significantly increased its stake in Reinsurance Group of America, raising its position by 939.8% to 73,513 shares, valued at approximately $14.5 million.
• Multiple institutional investors also boosted their holdings in RGA, with American Century Companies Inc. increasing their position by 67.9% and GAMMA Investing LLC by an astounding 54,931.6% in the first quarter.
• The company recently declared a quarterly dividend of $0.93 per share, reflecting an increase from the previous dividend and an annualized yield of 1.9%.

Jane Street Group LLC raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 939.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,513 shares of the insurance provider's stock after acquiring an additional 66,443 shares during the period. Jane Street Group LLC owned approximately 0.11% of Reinsurance Group of America worth $14,475,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. American Century Companies Inc. boosted its position in shares of Reinsurance Group of America by 67.9% in the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider's stock worth $297,699,000 after buying an additional 611,226 shares during the period. GAMMA Investing LLC boosted its position in shares of Reinsurance Group of America by 54,931.6% in the first quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider's stock worth $93,512,000 after buying an additional 474,060 shares during the period. Nuveen LLC purchased a new stake in shares of Reinsurance Group of America in the first quarter worth about $69,092,000. Tidal Investments LLC boosted its position in shares of Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock worth $60,963,000 after buying an additional 281,317 shares during the period. Finally, Bahl & Gaynor Inc. purchased a new stake in shares of Reinsurance Group of America in the first quarter worth about $55,375,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley reduced their price target on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company reduced their price target on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Down 1.3%

Shares of RGA stock opened at $192.13 on Monday. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The stock has a market cap of $12.70 billion, a PE ratio of 16.68 and a beta of 0.59. The business's fifty day moving average is $191.72 and its 200-day moving average is $193.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.48 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

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.

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