Reinsurance Group of America, Incorporated (NYSE:RGA) Sees Significant Growth in Short Interest

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

Analyst Upgrades and Downgrades

Several brokerages have commented on RGA. Barclays lowered their price objective 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. Piper Sandler lowered their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Evercore ISI lowered their price objective on shares of 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. 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 on the stock in a research report on Friday, February 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.85.

Reinsurance Group of America Price Performance

RGA stock traded down $1.70 during midday trading on Tuesday, reaching $191.38. The company had a trading volume of 44,466 shares, compared to its average volume of 518,634. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America has a 1 year low of $178.84 and a 1 year high of $233.81. The company has a market capitalization of $12.64 billion, a P/E ratio of 17.82 and a beta of 0.91. The firm has a 50-day moving average price of $209.37 and a 200-day moving average price of $214.78.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 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%. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.86%. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently made changes to their positions in the business. Colonial Trust Co SC lifted its holdings in shares of Reinsurance Group of America by 72.2% in the 4th 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. Private Trust Co. NA lifted its holdings in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 120 shares during the last quarter. Strengthening Families & Communities LLC bought a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $36,000. Spire Wealth Management raised its holdings in Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Reinsurance Group of America during the 4th quarter valued at $44,000. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

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.