J. Safra Sarasin Holding AG Cuts Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Reinsurance Group of America by 23.6% during the second quarter, now holding about 0.18% of the company valued at $23.34 million.
• Reinsurance Group of America recently missed earnings estimates for the quarter, reporting $4.72 EPS against an expected $5.58, and had revenue of $5.60 billion compared to forecasts of $5.70 billion.
• The company announced a quarterly dividend increase to $0.93 per share, which marks a rise from the previous dividend of $0.89, resulting in an annual yield of 1.9%.

J. Safra Sarasin Holding AG reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 23.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,666 shares of the insurance provider's stock after selling 36,289 shares during the period. J. Safra Sarasin Holding AG owned approximately 0.18% of Reinsurance Group of America worth $23,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new stake in Reinsurance Group of America during the first quarter worth about $28,000. Golden State Wealth Management LLC boosted its stake in shares of Reinsurance Group of America by 164.3% during the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after acquiring an additional 121 shares during the period. TCTC Holdings LLC increased its stake in Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Reinsurance Group of America by 357.1% during the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after purchasing an additional 175 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $193.24 on Thursday. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 16.77 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. 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 company's 50-day moving average is $190.09 and its two-hundred day moving average is $193.26.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.48 EPS. Research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.9%. This is a boost 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 dividend payout ratio (DPR) is currently 32.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RGA shares. Morgan Stanley lowered their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $241.50.

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.

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