Reinsurance Group of America, Incorporated $RGA Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 88.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,577 shares of the insurance provider’s stock after selling 12,018 shares during the quarter. Strs Ohio’s holdings in Reinsurance Group of America were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. WCM Investment Management LLC boosted its stake in Reinsurance Group of America by 5.0% during the second quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider’s stock worth $521,343,000 after buying an additional 125,937 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 acquiring an additional 532,891 shares during the last quarter. Geode Capital Management LLC increased its holdings in Reinsurance Group of America by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,219,609 shares of the insurance provider’s stock valued at $241,960,000 after purchasing an additional 53,211 shares during the last quarter. Norges Bank acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at approximately $167,955,000. Finally, AQR Capital Management LLC raised its position in Reinsurance Group of America by 29.6% in the second quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after purchasing an additional 182,729 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Up 1.6%

Shares of NYSE:RGA opened at $202.63 on Monday. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $231.96. The company’s 50 day moving average is $198.67 and its two-hundred day moving average is $193.21. The company has a market cap of $13.31 billion, a PE ratio of 15.59 and a beta of 0.53. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RGA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Barclays set a $237.00 price target on shares of Reinsurance Group of America in a research note on Thursday, January 8th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $237.00 to $238.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Piper Sandler upped their target price on shares of Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Finally, TD Cowen reiterated a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Reinsurance Group of America Profile

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.