Renaissance Technologies LLC Makes New Investment in Reinsurance Group of America, Incorporated $RGA

Key Points

• Renaissance Technologies initiated a new 27,600-share position in Reinsurance Group of America during the first quarter, valued at approximately $5.6 million. Institutional investors and hedge funds collectively own 95.11% of RGA’s shares.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $255. Several firms raised their targets, including JPMorgan to $286 and Barclays to $278.
• RGA reported strong quarterly results, posting EPS of $6.97 versus the $6.03 consensus estimate, while revenue rose 23.5% year over year to $6.49 billion.

Renaissance Technologies LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 27,600 shares of the insurance provider's stock, valued at approximately $5,635,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGA. Activest Wealth Management bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $30,000. Tobam increased its stake in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America during the fourth quarter valued at approximately $35,000. Entrust Financial LLC acquired a new position in Reinsurance Group of America during the fourth quarter valued at approximately $40,000. Finally, Advisory Services Network LLC bought a new stake in Reinsurance Group of America during the third quarter worth $38,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on RGA. Barclays raised their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $255.00.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $236.27 on Thursday. The firm's fifty day moving average price is $220.84 and its two-hundred day moving average price is $213.00. The stock has a market cap of $15.48 billion, a PE ratio of 12.80 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America, Incorporated has a fifty-two week low of $178.21 and a fifty-two week high of $245.00.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.47 billion. During the same period in the prior year, the company earned $5.66 EPS. Reinsurance Group of America's revenue was up 23.5% compared to the same quarter last year. On average, equities analysts expect that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current fiscal year.

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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