Reinsurance Group of America, Incorporated (NYSE:RGA) Sees Large Drop in Short Interest

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

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC lifted its holdings in Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after acquiring an additional 53 shares during the period. Spire Wealth Management grew its stake in Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. Keybank National Association OH raised its position in shares of Reinsurance Group of America by 2.6% in the fourth quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock worth $500,000 after buying an additional 59 shares in the last quarter. Baron Wealth Management LLC boosted its position in shares of Reinsurance Group of America by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in Reinsurance Group of America by 3.0% in the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 2.3 %

Shares of NYSE:RGA traded down $4.78 during mid-day trading on Friday, reaching $199.72. 878,524 shares of the stock were exchanged, compared to its average volume of 349,454. The company has a market cap of $13.15 billion, a P/E ratio of 18.60 and a beta of 0.93. The stock’s 50 day simple moving average is $216.39 and its 200-day simple moving average is $216.67. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a one year low of $167.80 and a one year high of $233.81.

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 14.80% and a net margin of 3.24%. As a group, equities research analysts predict that Reinsurance Group of America will post 23.14 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 of this dividend is Tuesday, February 18th. Reinsurance Group of America’s payout ratio is 33.15%.

Analysts Set New Price Targets

RGA has been the subject of several analyst reports. Barclays cut their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Piper Sandler lowered their target price 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 reaffirmed an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Morgan Stanley dropped their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday. Three 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.