Brandywine Global Investment Management LLC Reduces Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Brandywine Global Investment Management LLC decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,388 shares of the insurance provider’s stock after selling 2,208 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Reinsurance Group of America were worth $7,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $174,082,000. Raymond James Financial Inc. purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $48,724,000. JPMorgan Chase & Co. raised its holdings in shares of Reinsurance Group of America by 47.7% during the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after acquiring an additional 117,829 shares in the last quarter. LPL Financial LLC lifted its stake in Reinsurance Group of America by 234.7% in the fourth quarter. LPL Financial LLC now owns 108,229 shares of the insurance provider’s stock worth $23,121,000 after acquiring an additional 75,891 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings 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 valued at $14,502,000 after acquiring an additional 65,536 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $196.85 on Tuesday. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 18.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America, Incorporated has a one year low of $178.84 and a one year high of $233.81. The company’s 50-day moving average is $204.41 and its 200 day moving average is $213.44.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS 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 expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Analysts Set New Price Targets

Several brokerages have commented on RGA. Barclays decreased 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. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Piper Sandler reduced their target price on 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. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.85.

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.