Renaissance Technologies LLC Takes $5.63 Million Position in Reinsurance Group of America, Incorporated $RGA

Renaissance Technologies LLC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the first quarter, HoldingsChannel reports. The firm purchased 27,600 shares of the insurance provider’s stock, valued at approximately $5,635,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RGA. GC Wealth Management RIA LLC raised its position in Reinsurance Group of America by 7.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 3,048 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 223 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Reinsurance Group of America by 2.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 29,287 shares of the insurance provider’s stock worth $5,979,000 after buying an additional 683 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Reinsurance Group of America by 44.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 335,734 shares of the insurance provider’s stock valued at $68,543,000 after buying an additional 102,698 shares during the last quarter. Inceptionr LLC increased its stake in shares of Reinsurance Group of America by 203.1% in the first quarter. Inceptionr LLC now owns 5,874 shares of the insurance provider’s stock valued at $1,199,000 after buying an additional 3,936 shares during the period. Finally, Liberty One Investment Management LLC increased its stake in shares of Reinsurance Group of America by 11.9% in the first quarter. Liberty One Investment Management LLC now owns 3,243 shares of the insurance provider’s stock valued at $662,000 after buying an additional 346 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $236.27 on Thursday. The business has a 50-day moving average price of $220.84 and a two-hundred day moving average price of $213.00. Reinsurance Group of America, Incorporated has a 1-year low of $178.21 and a 1-year high of $245.00. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.48 billion, a P/E ratio of 12.80 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (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 for the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the business earned $5.66 EPS. The firm’s revenue was up 23.5% compared to the same quarter last year. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was 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 this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RGA shares. Barclays raised their price objective on Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Reinsurance Group of America Company 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.