Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Up 45.5% in March

Reinsurance Group of America, Incorporated (NYSE:RGA) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 613,200 shares, a growth of 45.5% from the February 28th total of 421,300 shares. Based on an average daily volume of 519,800 shares, the short-interest ratio is currently 1.2 days. Currently, 0.9% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI decreased 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 report on Thursday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley lowered their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Finally, Barclays cut their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.85.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently added to or reduced their stakes in RGA. Daiwa Securities Group Inc. increased its stake in shares of Reinsurance Group of America by 86.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock valued at $610,000 after acquiring an additional 1,300 shares in the last quarter. Private Trust Co. NA increased its stake in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Reinsurance Group of America by 146.2% during the third quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider’s stock valued at $16,690,000 after purchasing an additional 45,972 shares during the period. Townsquare Capital LLC boosted its position in shares of Reinsurance Group of America by 17.3% during the 3rd quarter. Townsquare Capital LLC now owns 1,813 shares of the insurance provider’s stock worth $395,000 after purchasing an additional 267 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in shares of Reinsurance Group of America by 51.5% in the 3rd quarter. Bridgewater Associates LP now owns 30,638 shares of the insurance provider’s stock valued at $6,675,000 after buying an additional 10,411 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 2.8 %

NYSE:RGA traded down $5.60 during trading hours on Friday, hitting $195.69. 278,849 shares of the company were exchanged, compared to its average volume of 399,824. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 18.22 and a beta of 0.91. Reinsurance Group of America has a one year low of $178.84 and a one year high of $233.81. The company has a fifty day simple moving average of $204.94 and a 200 day simple moving average of $213.54. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Sell-side analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 1.82%. Reinsurance Group of America’s payout ratio is 33.15%.

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.