Lmcg Investments LLC Trims Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

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

Other large investors have also recently made changes to their positions in the company. Earnest Partners LLC boosted its stake in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares in the last quarter. Sei Investments Co. boosted its position in Reinsurance Group of America by 5.7% during the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after acquiring an additional 42,135 shares in the last quarter. Norges Bank bought a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $122,301,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after acquiring an additional 15,926 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Reinsurance Group of America in the 4th quarter worth approximately $92,083,000. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RGA. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Raymond James boosted 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 research note on Friday, June 14th. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Price Performance

Shares of RGA opened at $216.75 on Wednesday. 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 P/E ratio of 16.84 and a beta of 0.91. The firm has a 50 day moving average of $212.53 and a 200 day 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 (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.40 EPS. As a group, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.64%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio 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.