Reinsurance Group of America, Incorporated $RGA Shares Purchased by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp increased its holdings in Reinsurance Group of America by 3.0% in the first quarter, owning 82,602 shares valued at $16.26 million.
• Analysts have a consensus rating of "Moderate Buy" on Reinsurance Group of America, with a target price of $242.27, although some firms have set higher expectations.
• The company recently increased its quarterly dividend to $0.93 per share, marking an annualized dividend of $3.72 and a yield of 1.9%.

Hancock Whitney Corp raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,602 shares of the insurance provider's stock after acquiring an additional 2,371 shares during the period. Hancock Whitney Corp owned approximately 0.12% of Reinsurance Group of America worth $16,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its position in Reinsurance Group of America by 17.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,048 shares of the insurance provider's stock worth $1,292,000 after buying an additional 893 shares in the last quarter. Algert Global LLC increased its stake in shares of Reinsurance Group of America by 150.6% in the 4th quarter. Algert Global LLC now owns 9,930 shares of the insurance provider's stock worth $2,121,000 after acquiring an additional 5,968 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Reinsurance Group of America by 17.7% during the 4th quarter. Cetera Investment Advisers now owns 24,795 shares of the insurance provider's stock worth $5,297,000 after acquiring an additional 3,721 shares during the period. Concentric Capital Strategies LP purchased a new position in shares of Reinsurance Group of America during the 4th quarter worth $1,714,000. Finally, Colonial Trust Co SC boosted its position in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RGA. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Wells Fargo & Company decreased their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Price Performance

Shares of RGA opened at $196.26 on Thursday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm's fifty day simple moving average is $192.39 and its 200-day simple moving average is $193.87. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 17.04 and a beta of 0.59. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $5.48 earnings per share. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's payout ratio is presently 32.29%.

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.

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.