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

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Reinsurance Group of America by 27.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,355 shares of the insurance provider’s stock valued at $1,358,000 after buying an additional 1,383 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at about $99,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at about $18,796,000. Jefferies Financial Group Inc. grew its holdings in shares of Reinsurance Group of America by 54.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 5,250 shares of the insurance provider’s stock valued at $1,122,000 after buying an additional 1,845 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Reinsurance Group of America by 28.5% during the fourth quarter. Mackenzie Financial Corp now owns 14,307 shares of the insurance provider’s stock valued at $3,056,000 after buying an additional 3,171 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGA has been the subject of several research reports. Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Evercore ISI dropped their price objective on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Morgan Stanley dropped their price target 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 note on Friday, February 14th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Barclays dropped their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.85.

Reinsurance Group of America Trading Down 0.9 %

Shares of RGA traded down $1.70 during trading hours on Tuesday, hitting $191.38. 44,466 shares of the stock were exchanged, compared to its average volume of 518,634. Reinsurance Group of America has a fifty-two week low of $178.84 and a fifty-two week high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The business has a 50-day moving average of $209.37 and a 200-day moving average of $214.78. The firm has a market capitalization of $12.64 billion, a P/E ratio of 17.82 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate 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 expect that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

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.