Wellington Management Group LLP decreased its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,923 shares of the insurance provider's stock after selling 48,001 shares during the period. Wellington Management Group LLP owned about 0.23% of Reinsurance Group of America worth $32,028,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in RGA. Norges Bank purchased a new stake in Reinsurance Group of America in the fourth quarter worth approximately $174,082,000. Raymond James Financial Inc. bought a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $48,724,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 117,829 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Reinsurance Group of America by 234.7% during the 4th quarter. LPL Financial LLC now owns 108,229 shares of the insurance provider's stock valued at $23,121,000 after purchasing an additional 75,891 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Reinsurance Group of America by 2,791.1% in the fourth quarter. CIBC Asset Management Inc now owns 67,884 shares of the insurance provider's stock worth $14,502,000 after purchasing an additional 65,536 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Barclays decreased their price target 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. Piper Sandler dropped their price objective on 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. Wells Fargo & Company decreased their target price on shares of Reinsurance Group of America from $264.00 to $246.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Evercore ISI dropped their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $230.15.
View Our Latest Analysis on RGA
Reinsurance Group of America Trading Up 2.4 %
Shares of RGA traded up $4.19 during trading hours on Friday, reaching $177.76. 557,958 shares of the company traded hands, compared to its average volume of 407,418. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company's fifty day moving average price is $193.93 and its two-hundred day moving average price is $210.55. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 16.55 and a beta of 0.70.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.
Reinsurance Group of America Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 2.00%. Reinsurance Group of America's dividend payout ratio (DPR) is 33.15%.
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.
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