Hancock Whitney Corp Trims Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Hancock Whitney Corp reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,428 shares of the insurance provider's stock after selling 3,873 shares during the quarter. Hancock Whitney Corp owned about 0.07% of Reinsurance Group of America worth $10,115,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Loomis Sayles & Co. L P lifted its stake in Reinsurance Group of America by 0.3% in the third quarter. Loomis Sayles & Co. L P now owns 209,683 shares of the insurance provider's stock valued at $45,683,000 after buying an additional 649 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in Reinsurance Group of America by 31.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,358 shares of the insurance provider's stock valued at $296,000 after purchasing an additional 325 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Reinsurance Group of America by 58.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,851 shares of the insurance provider's stock valued at $3,236,000 after purchasing an additional 5,493 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Reinsurance Group of America by 86.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider's stock worth $610,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Reinsurance Group of America by 88.8% in the third quarter. Cerity Partners LLC now owns 36,672 shares of the insurance provider's stock valued at $7,990,000 after purchasing an additional 17,253 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RGA shares. Piper Sandler increased their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. TD Cowen started coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a "hold" rating and a $235.00 price target for the company. Morgan Stanley lowered their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $227.77.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares of the company's stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Price Performance

Shares of RGA traded up $0.73 on Monday, reaching $231.43. The stock had a trading volume of 459,568 shares, compared to its average volume of 355,859. The firm has a 50-day moving average of $219.09 and a 200 day moving average of $212.96. The firm has a market capitalization of $15.24 billion, a PE ratio of 21.18 and a beta of 0.92. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $5.57 earnings per share. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.54%. Reinsurance Group of America's dividend payout ratio is currently 32.69%.

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.