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

Hancock Whitney Corp raised its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.5% in the second quarter, Holdings Channel reports. The fund owned 50,301 shares of the insurance provider’s stock after buying an additional 4,348 shares during the period. Hancock Whitney Corp’s holdings in Reinsurance Group of America were worth $10,325,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America in the fourth quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America in the first quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the second quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America in the first quarter worth approximately $29,000. Finally, Family Firm Inc. purchased a new position in Reinsurance Group of America in the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $219.62 on Friday. The firm’s fifty day simple moving average is $212.96 and its 200-day simple moving average is $203.22. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.06 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12 month low of $140.39 and a 12 month high of $227.87. 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 announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.40 EPS. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.89 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.62%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s payout ratio is currently 27.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RGA shares. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Barclays assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective for the company. Jefferies Financial Group boosted 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. UBS Group boosted their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada boosted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $223.33.

About Reinsurance Group of America

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.