ExodusPoint Capital Management LP Purchases 35,269 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

ExodusPoint Capital Management LP raised its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 293.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,288 shares of the insurance provider’s stock after acquiring an additional 35,269 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.07% of Reinsurance Group of America worth $10,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RGA. Spire Wealth Management increased its stake in Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $44,000. Versant Capital Management Inc increased its position in shares of Reinsurance Group of America by 38.1% in the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 80 shares during the last quarter. Private Trust Co. NA raised its holdings in Reinsurance Group of America by 99.4% during the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 155 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Reinsurance Group of America during the fourth quarter valued at approximately $70,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $172.27 on Friday. The stock has a 50 day simple moving average of $201.62 and a 200 day simple moving average of $212.73. The stock has a market cap of $11.37 billion, a P/E ratio of 16.04 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1-year low of $170.19 and a 1-year high of $233.81. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and increased their price target for the company from $232.00 to $237.00 in a research note on Wednesday. Evercore ISI lowered their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Piper Sandler cut their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lifted their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $230.38.

About Reinsurance Group of America

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.