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

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

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its holdings in shares of Reinsurance Group of America by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider’s stock worth $116,597,000 after purchasing an additional 20,722 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 3.2% in the 3rd quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider’s stock valued at $34,999,000 after purchasing an additional 5,586 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Reinsurance Group of America by 94.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock valued at $3,555,000 after purchasing an additional 8,971 shares during the last quarter. Algebris UK Ltd. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at about $10,750,000. Finally, Nuance Investments LLC boosted its position in shares of Reinsurance Group of America by 30.6% in the 3rd quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider’s stock valued at $9,094,000 after purchasing an additional 11,095 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of RGA opened at $198.82 on Monday. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $229.21. The firm’s 50 day moving average price is $208.40 and its 200 day moving average price is $198.95. The company has a market cap of $13.03 billion, a P/E ratio of 11.20 and a beta of 0.50. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating 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 company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the company posted $4.99 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year. On average, research analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a 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%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RGA. Piper Sandler reissued an “overweight” rating and issued a $263.00 price target on shares of Reinsurance Group of America in a research note on Friday, February 6th. Morgan Stanley lifted their target price 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. Barclays set a $245.00 target price on Reinsurance Group of America and gave the company an “overweight” rating in a research report on Friday, February 6th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, TD Cowen restated a “hold” rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.57.

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.