Magnetar Financial LLC Has $3.90 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Magnetar Financial LLC grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 138.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,239 shares of the insurance provider’s stock after acquiring an additional 10,585 shares during the period. Magnetar Financial LLC’s holdings in Reinsurance Group of America were worth $3,896,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC lifted its holdings in shares of Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after buying an additional 33,082 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after buying an additional 18,162 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Reinsurance Group of America by 8.2% during the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock valued at $79,872,000 after buying an additional 27,931 shares during the last quarter. JPMorgan Chase & Co. raised 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 acquiring an additional 117,829 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $48,724,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays cut their price objective 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. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Piper Sandler cut their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI cut 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three equities 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $191.40 on Friday. Reinsurance Group of America, Incorporated has a 1-year low of $178.84 and a 1-year high of $233.81. The firm has a market capitalization of $12.64 billion, a PE ratio of 17.82 and a beta of 0.91. The business’s 50 day moving average is $207.55 and its 200-day moving average is $214.25. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced 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 return on equity of 14.55% and a net margin of 3.24%. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is presently 33.15%.

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.