Mackenzie Financial Corp Increases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Mackenzie Financial Corp lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,307 shares of the insurance provider's stock after acquiring an additional 3,171 shares during the quarter. Mackenzie Financial Corp's holdings in Reinsurance Group of America were worth $3,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RGA. Vanguard Group Inc. grew its holdings in Reinsurance Group of America by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider's stock worth $1,541,121,000 after acquiring an additional 51,733 shares in the last quarter. FMR LLC lifted its position in shares of Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock worth $1,205,042,000 after purchasing an additional 564,693 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Reinsurance Group of America by 1.4% during the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider's stock worth $526,911,000 after purchasing an additional 33,082 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider's stock valued at $239,911,000 after buying an additional 893,537 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Reinsurance Group of America by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider's stock valued at $238,031,000 after buying an additional 4,106 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGA has been the subject of several analyst reports. Evercore ISI lowered their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Raymond James restated a "market perform" rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Piper Sandler dropped their price target on shares of 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. UBS Group reissued a "neutral" rating and set a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average price target of $228.85.

Reinsurance Group of America Stock Performance

NYSE:RGA traded up $0.37 during trading hours on Tuesday, reaching $204.07. 354,392 shares of the company's stock were exchanged, compared to its average volume of 410,564. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 19.00 and a beta of 0.57. The company has a 50-day moving average of $193.07 and a 200 day moving average of $205.19.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the firm earned $6.02 earnings per share. The business's quarterly revenue was down 17.0% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.74%. Reinsurance Group of America's payout ratio is 30.04%.

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.