Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,099 shares of the insurance provider’s stock after selling 781 shares during the period. Mackenzie Financial Corp’s holdings in Reinsurance Group of America were worth $1,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC increased its position in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 114 shares during the last quarter. Toth Financial Advisory Corp grew its stake in Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after buying an additional 70 shares during the period. Covestor Ltd grew its stake in Reinsurance Group of America by 532.8% during the third quarter. Covestor Ltd now owns 424 shares of the insurance provider’s stock worth $62,000 after buying an additional 357 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Reinsurance Group of America during the fourth quarter worth approximately $72,000. Finally, Signaturefd LLC grew its stake in Reinsurance Group of America by 61.9% during the third quarter. Signaturefd LLC now owns 701 shares of the insurance provider’s stock worth $102,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.7 %

Shares of NYSE:RGA opened at $190.04 on Wednesday. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 14.15 and a beta of 0.89. Reinsurance Group of America, Incorporated has a 1-year low of $133.13 and a 1-year high of $196.25. The company’s fifty day moving average is $183.22 and its two-hundred day moving average is $168.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.99 earnings per share. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.85 per share. The ex-dividend date was Monday, February 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.79%. Reinsurance Group of America’s dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling

In related news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock valued at $1,162,239 in the last quarter. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Piper Sandler upped their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price objective on shares of Reinsurance Group of America in a research note on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI increased their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $194.38.

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.