Magnetar Financial LLC Has $4.30 Million Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Magnetar Financial LLC trimmed its stake in Reinsurance Group of America by 33.2%, selling 11,145 shares and leaving it with 22,396 shares valued at about $4.30 million.
• RGA reported a strong quarter—$7.75 EPS vs. a $5.86 consensus and $6.64 billion in revenue (up 26.6% YoY)—and analysts have an average rating of "Moderate Buy" with an average price target of $247.75.
• The company recently paid a quarterly dividend of $0.93 (annualized $3.72, ~1.8% yield) and is heavily institutionally owned (about 95.11% of shares).

Magnetar Financial LLC trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,396 shares of the insurance provider's stock after selling 11,145 shares during the period. Magnetar Financial LLC's holdings in Reinsurance Group of America were worth $4,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RGA. Goldman Sachs Group Inc. increased its stake in shares of Reinsurance Group of America by 44.3% in the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider's stock valued at $43,554,000 after buying an additional 67,880 shares during the period. Focus Partners Wealth boosted its holdings in Reinsurance Group of America by 121.2% in the first quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider's stock valued at $527,000 after acquiring an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 58 shares during the period. AE Wealth Management LLC raised its holdings in Reinsurance Group of America by 10.3% during the 2nd quarter. AE Wealth Management LLC now owns 3,655 shares of the insurance provider's stock worth $725,000 after purchasing an additional 340 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Reinsurance Group of America by 13.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,183 shares of the insurance provider's stock worth $6,979,000 after purchasing an additional 4,061 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

RGA opened at $205.75 on Thursday. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $229.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 11.59 and a beta of 0.50. The firm's fifty day moving average price is $208.00 and its two-hundred day moving average price is $198.18.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the prior year, the company posted $4.99 earnings per share. The firm's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America's dividend payout ratio is currently 20.96%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGA. TD Cowen reissued a "hold" rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Piper Sandler reissued an "overweight" rating and issued a $263.00 price objective on shares of Reinsurance Group of America in a research note on Friday, February 6th. Barclays set a $245.00 target price on Reinsurance Group of America and gave the stock an "overweight" rating in a report on Friday, February 6th. Finally, Wells Fargo & Company increased their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $247.75.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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