Jane Street Group LLC Buys 66,443 Shares of 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 boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 939.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 73,513 shares of the insurance provider's stock after purchasing an additional 66,443 shares during the quarter. Jane Street Group LLC owned about 0.11% of Reinsurance Group of America worth $14,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RGA. Focus Partners Wealth grew its position in Reinsurance Group of America by 17.7% during the 4th quarter. Focus Partners Wealth now owns 1,210 shares of the insurance provider's stock valued at $267,000 after purchasing an additional 182 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in Reinsurance Group of America by 283.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,600 shares of the insurance provider's stock valued at $983,000 after purchasing an additional 3,400 shares during the last quarter. Quantinno Capital Management LP grew its position in Reinsurance Group of America by 8.0% during the 4th quarter. Quantinno Capital Management LP now owns 22,124 shares of the insurance provider's stock valued at $4,726,000 after purchasing an additional 1,646 shares during the last quarter. ProShare Advisors LLC grew its position in Reinsurance Group of America by 48.3% during the 4th quarter. ProShare Advisors LLC now owns 4,259 shares of the insurance provider's stock valued at $910,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Reinsurance Group of America by 6,944.4% during the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider's stock valued at $60,963,000 after acquiring an additional 281,317 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Reinsurance Group of America Stock Performance

NYSE RGA traded down $2.39 on Friday, reaching $186.21. 1,400,839 shares of the stock were exchanged, compared to its average volume of 432,546. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The firm has a market capitalization of $12.31 billion, a PE ratio of 16.16 and a beta of 0.59. The company's 50-day simple moving average is $190.89 and its two-hundred day simple moving average is $193.25. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

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

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio (DPR) is 32.29%.

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.