Huntington National Bank Increases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Huntington National Bank grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the insurance provider’s stock after purchasing an additional 133 shares during the quarter. Huntington National Bank’s holdings in Reinsurance Group of America were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after buying an additional 51,733 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Reinsurance Group of America by 1.4% in the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after acquiring an additional 33,082 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Reinsurance Group of America by 389.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after purchasing an additional 893,537 shares during the period. Geode Capital Management LLC boosted its position in shares of Reinsurance Group of America by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after purchasing an additional 4,106 shares in the last quarter. Finally, Norges Bank purchased a new stake in Reinsurance Group of America in the fourth quarter worth $174,082,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 7.9 %

Shares of Reinsurance Group of America stock opened at $172.27 on Friday. Reinsurance Group of America, Incorporated has a twelve month low of $170.19 and a twelve month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $201.62 and its 200 day moving average is $212.70. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.07%. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Wall Street Analyst Weigh In

Several brokerages have commented on RGA. Barclays lowered their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $232.00 to $237.00 in a report on Wednesday. Piper Sandler lowered their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company upped their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $230.38.

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.