Point72 Europe London LLP Sells 9,915 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Point72 Europe London LLP reduced its stake in Reinsurance Group of America by 16.4%, now holding approximately 50,443 shares valued at $9,932,000.
• The company recently raised its quarterly dividend from $0.89 to $0.93, representing an annualized payout of $3.72 with a dividend yield of 1.9%.
• Reinsurance Group of America reported $4.72 earnings per share in its latest earnings, which fell short of the consensus estimate by ($0.86) despite a year-over-year revenue increase of 14.8%.

Point72 Europe London LLP trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,443 shares of the insurance provider's stock after selling 9,915 shares during the quarter. Point72 Europe London LLP owned approximately 0.08% of Reinsurance Group of America worth $9,932,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Reinsurance Group of America by 26.2% in the 1st quarter. Royal Bank of Canada now owns 83,034 shares of the insurance provider's stock worth $16,351,000 after purchasing an additional 17,242 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Reinsurance Group of America by 54.4% in the 1st quarter. Graham Capital Management L.P. now owns 63,631 shares of the insurance provider's stock worth $12,529,000 after acquiring an additional 22,406 shares during the last quarter. Quarry LP raised its holdings in Reinsurance Group of America by 424.6% in the 1st quarter. Quarry LP now owns 598 shares of the insurance provider's stock worth $118,000 after acquiring an additional 484 shares during the last quarter. Vident Advisory LLC raised its holdings in Reinsurance Group of America by 8.0% in the 1st quarter. Vident Advisory LLC now owns 8,132 shares of the insurance provider's stock worth $1,601,000 after acquiring an additional 601 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Reinsurance Group of America in the 1st quarter worth approximately $80,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.6%

NYSE:RGA opened at $194.60 on Friday. 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 firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of 16.89 and a beta of 0.61. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The business has a fifty day moving average price of $192.51 and a 200-day moving average price of $193.96.

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 firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company posted $5.48 EPS. The company's quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a $0.93 dividend. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.9%. Reinsurance Group of America's dividend payout ratio is currently 32.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RGA. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Keefe, Bruyette & Woods boosted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of "Moderate Buy" and a consensus price target of $242.27.

Reinsurance Group of America Company 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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