Squarepoint Ops LLC Invests $8.97 Million in Reinsurance Group of America, Incorporated $RGA

Squarepoint Ops LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,185 shares of the insurance provider’s stock, valued at approximately $8,971,000.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of Reinsurance Group of America by 44.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth increased its stake in shares of 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 worth $527,000 after buying an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $1,006,000. Finally, Cerity Partners LLC raised its stake in shares of Reinsurance Group of America by 15.5% in the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Up 0.9%

NYSE RGA opened at $247.30 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America, Incorporated has a one year low of $178.21 and a one year high of $257.81. The company has a 50-day simple moving average of $241.08 and a 200-day simple moving average of $219.97. The firm has a market capitalization of $16.15 billion, a PE ratio of 10.86 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business earned $4.72 earnings per share. Reinsurance Group of America’s quarterly revenue was up 18.5% on a year-over-year basis. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 29.22 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.98 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is 17.22%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGA. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Barclays increased their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Evercore reiterated an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $262.56.

Insider Activity

In related news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.