Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Purchased by LPL Financial LLC

LPL Financial LLC increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,968 shares of the insurance provider’s stock after buying an additional 5,784 shares during the quarter. LPL Financial LLC’s holdings in Reinsurance Group of America were worth $2,917,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RGA. Pictet Asset Management SA raised its stake in shares of Reinsurance Group of America by 2.3% during the 1st quarter. Pictet Asset Management SA now owns 7,724 shares of the insurance provider’s stock worth $1,025,000 after purchasing an additional 172 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Reinsurance Group of America by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 264,041 shares of the insurance provider’s stock worth $35,054,000 after purchasing an additional 1,750 shares in the last quarter. Archer Investment Corp acquired a new stake in Reinsurance Group of America in the 1st quarter valued at $73,000. Nuance Investments LLC boosted its stake in Reinsurance Group of America by 37.6% in the 1st quarter. Nuance Investments LLC now owns 1,018,207 shares of the insurance provider’s stock valued at $135,177,000 after buying an additional 278,242 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Reinsurance Group of America by 145.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,574 shares of the insurance provider’s stock valued at $873,000 after purchasing an additional 3,896 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

RGA has been the subject of a number of analyst reports. Barclays lifted their price objective on Reinsurance Group of America from $149.00 to $151.00 in a research note on Friday, June 16th. Credit Suisse Group upped their price objective on Reinsurance Group of America from $144.00 to $152.00 in a research note on Wednesday, May 24th. Wells Fargo & Company increased their target price on Reinsurance Group of America from $168.00 to $169.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. StockNews.com initiated coverage on Reinsurance Group of America in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Raymond James began coverage on Reinsurance Group of America in a report on Wednesday, June 7th. They issued a “strong-buy” rating and a $199.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $162.64.

Reinsurance Group of America Stock Down 1.8 %

Shares of RGA stock opened at $136.49 on Wednesday. The stock has a market cap of $9.04 billion, a P/E ratio of 9.76 and a beta of 0.88. Reinsurance Group of America, Incorporated has a 52 week low of $120.29 and a 52 week high of $153.35. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $140.28 and its two-hundred day simple moving average is $140.33.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, August 4th. The insurance provider reported $4.40 EPS for the quarter, beating the consensus estimate of $4.12 by $0.28. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. Reinsurance Group of America had a net margin of 5.61% and a return on equity of 20.35%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.78 EPS. Analysts predict that Reinsurance Group of America, Incorporated will post 18.13 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were given a dividend of $0.85 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, August 14th. This represents a $3.40 dividend on an annualized basis and a yield of 2.49%. Reinsurance Group of America’s dividend payout ratio is presently 24.32%.

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.