Lmcg Investments LLC Reduces Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Lmcg Investments LLC cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,462 shares of the insurance provider’s stock after selling 63 shares during the quarter. Lmcg Investments LLC’s holdings in Reinsurance Group of America were worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in Reinsurance Group of America by 7.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,961 shares of the insurance provider’s stock valued at $1,288,000 after acquiring an additional 539 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Reinsurance Group of America by 33.2% during the 4th quarter. Quadrant Capital Group LLC now owns 582 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 145 shares in the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America in the fourth quarter worth $122,301,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Reinsurance Group of America by 454.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,770 shares of the insurance provider’s stock worth $448,000 after buying an additional 2,270 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Reinsurance Group of America by 64.7% in the fourth quarter. UBS Group AG now owns 115,271 shares of the insurance provider’s stock worth $18,649,000 after buying an additional 45,303 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler upped their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Jefferies Financial Group lifted their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group increased their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Raymond James lifted their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $216.75 on Wednesday. The firm has a fifty day simple moving average of $212.53 and a two-hundred day simple moving average of $202.70. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America, Incorporated has a twelve month low of $140.39 and a twelve month high of $227.87. The company has a market capitalization of $14.28 billion, a PE ratio of 16.84 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the company posted $4.40 EPS. Reinsurance Group of America’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.89 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 27.66%.

Reinsurance Group of America Profile

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.