Quadrature Capital Ltd Makes New Investment in Reinsurance Group of America Inc (NYSE:RGA)

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Quadrature Capital Ltd bought a new position in shares of Reinsurance Group of America Inc (NYSE:RGA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,453 shares of the insurance provider’s stock, valued at approximately $1,214,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Reinsurance Group of America by 14.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,002,279 shares of the insurance provider’s stock worth $549,258,000 after acquiring an additional 908,747 shares during the last quarter. Alliancebernstein L.P. grew its position in Reinsurance Group of America by 4.9% during the 1st quarter. Alliancebernstein L.P. now owns 2,886,136 shares of the insurance provider’s stock worth $242,839,000 after purchasing an additional 134,221 shares during the last quarter. FMR LLC boosted its holdings in shares of Reinsurance Group of America by 277.1% in the 2nd quarter. FMR LLC now owns 2,210,889 shares of the insurance provider’s stock valued at $173,422,000 after acquiring an additional 1,624,677 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Reinsurance Group of America by 23.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,263,099 shares of the insurance provider’s stock valued at $106,277,000 after acquiring an additional 243,691 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Reinsurance Group of America by 9.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 961,378 shares of the insurance provider’s stock valued at $75,411,000 after acquiring an additional 84,467 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Several analysts have recently weighed in on RGA shares. Piper Sandler dropped their price target on shares of Reinsurance Group of America from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Morgan Stanley increased their price target on shares of Reinsurance Group of America from $90.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, August 20th. Zacks Investment Research raised shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research report on Tuesday, August 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $105.00 price objective on shares of Reinsurance Group of America in a research report on Monday, July 20th. Finally, ValuEngine cut shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $110.88.

Reinsurance Group of America stock traded up $2.01 during mid-day trading on Friday, reaching $96.51. 372,978 shares of the company’s stock were exchanged, compared to its average volume of 535,190. The company has a market cap of $6.56 billion, a P/E ratio of 9.44 and a beta of 1.15. Reinsurance Group of America Inc has a twelve month low of $55.39 and a twelve month high of $169.26. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $90.15 and a 200-day moving average of $94.10.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Tuesday, August 4th. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.04) by $2.40. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.57 billion. Reinsurance Group of America had a net margin of 3.99% and a return on equity of 5.79%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.31 EPS. Equities research analysts expect that Reinsurance Group of America Inc will post 7.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a $0.70 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.90%. Reinsurance Group of America’s payout ratio is 20.97%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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