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

Reinsurance Group of America, Incorporated (NYSE:RGA) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 277,000 shares, a drop of 33.5% from the January 15th total of 416,500 shares. Based on an average daily volume of 426,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Reinsurance Group of America by 65.1% in the third quarter. CWM LLC now owns 2,244 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 885 shares during the period. Creative Planning boosted its position in Reinsurance Group of America by 3.1% during the 3rd quarter. Creative Planning now owns 10,370 shares of the insurance provider’s stock valued at $2,259,000 after buying an additional 314 shares during the period. Wolff Wiese Magana LLC bought a new position in Reinsurance Group of America in the 3rd quarter worth $34,000. Claro Advisors LLC bought a new position in Reinsurance Group of America in the 3rd quarter worth $6,209,000. Finally, Trust Point Inc. increased its stake in shares of Reinsurance Group of America by 6.9% in the 3rd quarter. Trust Point Inc. now owns 1,242 shares of the insurance provider’s stock worth $271,000 after acquiring an additional 80 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $4.78 during trading hours on Friday, hitting $199.72. The company had a trading volume of 878,524 shares, compared to its average volume of 349,454. The firm has a market cap of $13.15 billion, a PE ratio of 18.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a one year low of $167.80 and a one year high of $233.81. The firm has a 50-day moving average of $216.39 and a 200 day moving average of $216.67.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.80%. On average, sell-side analysts expect that Reinsurance Group of America will post 23.14 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Analyst Ratings Changes

RGA has been the subject of several recent analyst reports. Barclays reduced their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Piper Sandler reduced their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, 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. Three equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $228.08.

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.