Jane Street Group LLC Grows Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Jane Street Group LLC significantly increased its stake in Reinsurance Group of America (RGA), owning 73,513 shares after purchasing an additional 66,443 shares, raising its holdings by 939.8%.
• Recent analyst reports have resulted in mixed price targets for RGA, with Morgan Stanley reducing its target from $210 to $195, while JPMorgan Chase raised theirs from $237 to $264.
• RGA declared a quarterly dividend of $0.93 per share, marking a positive change from the previous dividend of $0.89, with a current dividend yield of 1.9%.

Jane Street Group LLC raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 939.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,513 shares of the insurance provider's stock after purchasing an additional 66,443 shares during the period. Jane Street Group LLC owned about 0.11% of Reinsurance Group of America worth $14,475,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RGA. Alpine Bank Wealth Management acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Colonial Trust Co SC raised its position in shares of Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 121 shares in the last quarter. Finally, TCTC Holdings LLC raised its position in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGA has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $242.27.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $194.60 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The business's fifty day moving average price is $192.51 and its 200 day moving average price is $193.96. The stock has a market capitalization of $12.86 billion, a PE ratio of 16.89 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $5.48 earnings per share. Reinsurance Group of America's quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current 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 represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio 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.

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