Hancock Whitney Corp Boosts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Hancock Whitney Corp raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,301 shares of the insurance provider’s stock after purchasing an additional 4,348 shares during the period. Hancock Whitney Corp owned 0.08% of Reinsurance Group of America worth $10,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RGA. Norges Bank purchased a new position in Reinsurance Group of America during the fourth quarter valued at $122,301,000. Junto Capital Management LP purchased a new position in shares of Reinsurance Group of America in the fourth quarter worth about $92,083,000. Balyasny Asset Management L.P. purchased a new position in shares of Reinsurance Group of America in the fourth quarter worth about $67,177,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Reinsurance Group of America by 713.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock worth $47,098,000 after buying an additional 255,326 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Reinsurance Group of America in the first quarter worth about $24,918,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA opened at $219.62 on Friday. Reinsurance Group of America, Incorporated has a 1-year low of $140.39 and a 1-year high of $227.87. The stock has a market cap of $14.45 billion, a PE ratio of 17.06 and a beta of 0.91. The firm has a 50-day simple moving average of $212.96 and a two-hundred day simple moving average of $203.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm posted $4.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RGA shares. Barclays started coverage on shares of Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price target on the stock. UBS Group raised their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Piper Sandler raised their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.33.

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.