Reinsurance Group of America, Incorporated $RGA Shares Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Reinsurance Group of America by 3,076.5%, acquiring a total of 99,423 shares valued at $19.6 million.
• Reinsurance Group of America reported earnings of $4.72 EPS for the last quarter, which fell short of analyst expectations of $5.58.
• The company announced a dividend increase from $0.89 to $0.93 per share, resulting in an annualized yield of 1.9%.

Cubist Systematic Strategies LLC raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3,076.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,423 shares of the insurance provider's stock after buying an additional 96,293 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.15% of Reinsurance Group of America worth $19,576,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Reinsurance Group of America in the first quarter worth $28,000. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after acquiring an additional 121 shares during the period. Finally, TCTC Holdings LLC lifted its stake 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 during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.8%

Shares of RGA traded up $1.55 during midday trading on Wednesday, hitting $196.26. 251,764 shares of the stock were exchanged, compared to its average volume of 387,506. The firm has a market cap of $12.97 billion, a P/E ratio of 17.04 and a beta of 0.59. The stock has a fifty day simple moving average of $192.39 and a 200 day simple moving average of $193.87. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business earned $5.48 earnings per share. The firm's quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.93 per share. 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. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley decreased their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Wells Fargo & Company decreased their price objective 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. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock 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.