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

Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 655,535 shares, a growth of 19.6% from the December 15th total of 548,094 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 462,036 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 462,036 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC lifted its stake in shares of Reinsurance Group of America by 82.4% in the third quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Root Financial Partners LLC bought a new position in Reinsurance Group of America in the 3rd quarter worth $33,000. Advisory Services Network LLC bought a new position in Reinsurance Group of America in the 3rd quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Reinsurance Group of America by 632.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 177 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Reinsurance Group of America during the third quarter valued at about $44,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Raymond James Financial cut shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods cut their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $237.00 to $238.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Piper Sandler upped their target price on Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $238.67.

Reinsurance Group of America Stock Down 0.3%

RGA stock opened at $194.22 on Wednesday. The firm has a market cap of $12.76 billion, a PE ratio of 14.94 and a beta of 0.55. Reinsurance Group of America has a 1 year low of $159.25 and a 1 year high of $232.97. The company has a fifty day simple moving average of $197.10 and a 200 day simple moving average of $193.09. 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 posted its earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the business posted $6.13 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, November 10th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 28.62%.

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.