J. Safra Sarasin Holding AG Sells 96,608 Shares of Reinsurance Group of America, Incorporated $RGA

J. Safra Sarasin Holding AG cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 82.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,058 shares of the insurance provider’s stock after selling 96,608 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Reinsurance Group of America were worth $4,046,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its stake in shares of Reinsurance Group of America by 5.0% in the second quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider’s stock worth $521,343,000 after acquiring an additional 125,937 shares during the last quarter. American Century Companies Inc. raised its position in Reinsurance Group of America by 35.2% in the 2nd quarter. American Century Companies Inc. now owns 2,044,818 shares of the insurance provider’s stock worth $405,610,000 after purchasing an additional 532,891 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Reinsurance Group of America by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,219,609 shares of the insurance provider’s stock worth $241,960,000 after buying an additional 53,211 shares in the last quarter. Norges Bank bought a new position in Reinsurance Group of America in the 2nd quarter valued at $167,955,000. Finally, AQR Capital Management LLC increased its stake in shares of Reinsurance Group of America by 29.6% in the 2nd quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after buying an additional 182,729 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

RGA opened at $196.64 on Wednesday. The stock has a market cap of $12.92 billion, a P/E ratio of 15.13 and a beta of 0.55. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $232.97. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $197.89 and a 200 day simple moving average of $193.10.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Reinsurance Group of America had a return on equity of 12.19% and a net margin of 3.89%.The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.13 earnings per share. On average, research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RGA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. Keefe, Bruyette & Woods lowered their price target on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Morgan Stanley set a $208.00 price target on Reinsurance Group of America in a research note on Monday, December 15th. Finally, Raymond James Financial downgraded Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.