LPL Financial LLC Has $23.12 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

LPL Financial LLC lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 234.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,229 shares of the insurance provider's stock after purchasing an additional 75,891 shares during the quarter. LPL Financial LLC owned 0.16% of Reinsurance Group of America worth $23,121,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Reinsurance Group of America in the fourth quarter valued at about $48,724,000. JPMorgan Chase & Co. raised its position in shares of Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider's stock valued at $79,512,000 after buying an additional 117,829 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Reinsurance Group of America by 2,791.1% during the 4th quarter. CIBC Asset Management Inc now owns 67,884 shares of the insurance provider's stock worth $14,502,000 after acquiring an additional 65,536 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Reinsurance Group of America by 121.1% during the 4th quarter. Handelsbanken Fonder AB now owns 97,300 shares of the insurance provider's stock worth $20,786,000 after acquiring an additional 53,300 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Reinsurance Group of America by 146.2% during the third quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider's stock worth $16,690,000 after purchasing an additional 45,972 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on RGA. Piper Sandler reduced their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. UBS Group reissued a "neutral" rating and issued a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $232.00 to $237.00 in a research note on Wednesday. Finally, Evercore ISI dropped their price target on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $230.38.

Reinsurance Group of America Trading Down 7.9 %

Shares of Reinsurance Group of America stock traded down $14.84 during midday trading on Friday, reaching $172.27. The company had a trading volume of 874,362 shares, compared to its average volume of 403,387. The stock has a fifty day moving average price of $201.62 and a 200 day moving average price of $212.73. Reinsurance Group of America, Incorporated has a fifty-two week low of $169.10 and a fifty-two week high of $233.81. The firm has a market cap of $11.37 billion, a PE ratio of 16.04 and a beta of 0.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly 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 return on equity of 14.55% and a net margin of 3.24%. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders 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 dividend on an annualized basis and a yield of 2.07%. Reinsurance Group of America's payout ratio is currently 33.15%.

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.