Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Rises By 35.7%

Reinsurance Group of America, Incorporated (NYSE:RGA) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 421,300 shares, an increase of 35.7% from the February 13th total of 310,500 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 504,400 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of RGA. Spire Wealth Management boosted its stake in Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Reinsurance Group of America by 72.2% in the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Reinsurance Group of America by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock valued at $500,000 after purchasing an additional 59 shares in the last quarter. Baron Wealth Management LLC grew its holdings in shares of Reinsurance Group of America by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after purchasing an additional 64 shares during the last quarter. Finally, Mount Lucas Management LP increased its position in Reinsurance Group of America by 2.9% during the 3rd quarter. Mount Lucas Management LP now owns 2,592 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA traded up $5.97 during mid-day trading on Friday, reaching $191.98. The company had a trading volume of 418,938 shares, compared to its average volume of 531,419. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 17.88 and a beta of 0.91. The business’s 50-day simple moving average is $209.88 and its 200 day simple moving average is $214.98. Reinsurance Group of America has a one year low of $178.84 and a one year high of $233.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS 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%. On average, research analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced 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. This represents a $3.56 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is presently 33.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RGA shares. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler cut 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 research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Morgan Stanley reduced their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Evercore ISI lowered their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $231.85.

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.