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LPL Financial LLC Lowers Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Reinsurance Group of America logo with Finance background

LPL Financial LLC reduced its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,524 shares of the insurance provider's stock after selling 4,705 shares during the quarter. LPL Financial LLC owned 0.16% of Reinsurance Group of America worth $20,384,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its position in shares of Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after purchasing an additional 57 shares during the period. Alpine Bank Wealth Management bought a new position in Reinsurance Group of America in the first quarter worth approximately $28,000. Golden State Wealth Management LLC lifted its holdings in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after buying an additional 92 shares during the period. Cornerstone Planning Group LLC boosted its position in Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 121 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Reinsurance Group of America by 78.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider's stock valued at $61,000 after acquiring an additional 136 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RGA shares. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company decreased their price target on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a research report on Monday. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.64.

Get Our Latest Research Report on RGA

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded up $3.67 during midday trading on Friday, reaching $185.58. The company had a trading volume of 209,468 shares, compared to its average volume of 461,512. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The business's 50-day simple moving average is $195.57 and its 200 day simple moving average is $197.58. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a market cap of $12.27 billion, a P/E ratio of 16.11 and a beta of 0.61.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company earned $5.48 earnings per share. Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. On average, analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio is presently 32.29%.

About Reinsurance Group of America

(Free Report)

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.

Further Reading

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

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