Millennium Management LLC Has $59.08 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Millennium Management LLC grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 37.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 300,059 shares of the insurance provider's stock after purchasing an additional 81,464 shares during the quarter. Millennium Management LLC owned about 0.45% of Reinsurance Group of America worth $59,082,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Cetera Investment Advisers raised its stake in Reinsurance Group of America by 17.7% during the 4th quarter. Cetera Investment Advisers now owns 24,795 shares of the insurance provider's stock worth $5,297,000 after buying an additional 3,721 shares during the period. Colonial Trust Co SC raised its stake in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares during the period. Deutsche Bank AG raised its stake in Reinsurance Group of America by 106.2% during the 4th quarter. Deutsche Bank AG now owns 77,424 shares of the insurance provider's stock worth $16,540,000 after buying an additional 39,876 shares during the period. Ethic Inc. raised its stake in Reinsurance Group of America by 14.0% during the 4th quarter. Ethic Inc. now owns 6,568 shares of the insurance provider's stock worth $1,403,000 after buying an additional 809 shares during the period. Finally, Focus Partners Wealth raised its stake 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 worth $267,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley dropped their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. 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. Wells Fargo & Company lowered their target price 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 reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Stock Down 1.3%

RGA stock traded down $2.56 during trading hours on Friday, reaching $192.13. 330,932 shares of the stock were exchanged, compared to its average volume of 309,763. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 16.68 and a beta of 0.59. The firm's 50-day moving average is $191.72 and its 200-day moving average is $193.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.48 EPS. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. 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 is 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.