Mackenzie Financial Corp Sells 52,521 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Mackenzie Financial Corp cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 88.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,785 shares of the insurance provider’s stock after selling 52,521 shares during the quarter. Mackenzie Financial Corp’s holdings in Reinsurance Group of America were worth $796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Front Row Advisors LLC raised its holdings in Reinsurance Group of America by 49.2% in the first quarter. Front Row Advisors LLC now owns 291 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 96 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Reinsurance Group of America in the second quarter worth $35,000. Parkside Financial Bank & Trust raised its holdings in Reinsurance Group of America by 47.8% in the first quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 119 shares during the period. Quent Capital LLC raised its holdings in Reinsurance Group of America by 75.5% in the first quarter. Quent Capital LLC now owns 646 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 278 shares during the period. Finally, Covestor Ltd raised its holdings in Reinsurance Group of America by 57.6% in the first quarter. Covestor Ltd now owns 829 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 303 shares during the period. 97.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RGA. TheStreet upgraded shares of Reinsurance Group of America from a “c+” rating to a “b-” rating in a report on Thursday, November 3rd. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, November 4th. Citigroup raised their price objective on shares of Reinsurance Group of America from $112.00 to $116.00 in a report on Wednesday, November 16th. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $132.00 to $145.00 and gave the stock a “sector perform” rating in a report on Monday, November 7th. Finally, Barclays raised their price objective on shares of Reinsurance Group of America from $138.00 to $148.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of “Hold” and a consensus target price of $134.80.

Reinsurance Group of America Stock Down 0.4 %

Reinsurance Group of America stock opened at $141.03 on Thursday. The company has a market cap of $9.43 billion, a P/E ratio of 16.63 and a beta of 0.93. Reinsurance Group of America, Incorporated has a 1-year low of $94.32 and a 1-year high of $148.75. The company has a fifty day simple moving average of $135.44 and a 200 day simple moving average of $126.02. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.12.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, November 14th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 37.74%.

Reinsurance Group of America Company Profile

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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