Wellington Management Group LLP Cuts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Wellington Management Group LLP lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 24.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 149,923 shares of the insurance provider’s stock after selling 48,001 shares during the quarter. Wellington Management Group LLP’s holdings in Reinsurance Group of America were worth $32,028,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $174,082,000. Raymond James Financial Inc. purchased a new stake in Reinsurance Group of America in the fourth quarter worth $48,724,000. JPMorgan Chase & Co. raised its stake in shares of Reinsurance Group of America by 47.7% in the third 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 during the period. LPL Financial LLC lifted its position 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 buying an additional 75,891 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake 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. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group reiterated a “neutral” rating and issued a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $232.00 to $237.00 in a report on Wednesday, April 2nd. Finally, Evercore ISI decreased their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $230.38.

Reinsurance Group of America Stock Down 7.9 %

RGA stock opened at $172.27 on Monday. Reinsurance Group of America, Incorporated has a 1-year low of $170.19 and a 1-year high of $233.81. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $201.62 and its 200 day moving average is $212.66.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Reinsurance Group of America Company 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.