Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Update

Reinsurance Group of America, Incorporated (NYSE:RGA) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,005,457 shares, a growth of 53.3% from the February 26th total of 655,951 shares. Based on an average trading volume of 366,219 shares, the short-interest ratio is currently 2.7 days. Approximately 1.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Piper Sandler reissued an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a research note on Friday, February 6th. Finally, Morgan Stanley raised their price objective on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.57.

Reinsurance Group of America Stock Down 2.7%

RGA traded down $5.44 on Friday, reaching $198.82. The company’s stock had a trading volume of 238,645 shares, compared to its average volume of 331,887. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 11.20 and a beta of 0.50. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $229.21. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $208.40 and a two-hundred day moving average of $198.95.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the firm earned $4.99 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. As a group, analysts forecast that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America’s payout ratio is presently 20.96%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its stake in Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after buying an additional 52 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Reinsurance Group of America by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock worth $819,000 after acquiring an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after acquiring an additional 56 shares during the period. Bessemer Group Inc. increased its holdings in shares of Reinsurance Group of America by 1.0% in the 3rd quarter. Bessemer Group Inc. now owns 5,776 shares of the insurance provider’s stock valued at $1,110,000 after acquiring an additional 58 shares during the period. Finally, Xponance Inc. raised its position in Reinsurance Group of America by 0.8% in the 3rd quarter. Xponance Inc. now owns 7,637 shares of the insurance provider’s stock valued at $1,467,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

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.