Reinsurance Group of America, Incorporated (RGA) Short Interest Up 105.5% in November
Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,448,729 shares, a growth of 105.5% from the October 31st total of 705,008 shares. Based on an average daily volume of 379,839 shares, the days-to-cover ratio is presently 3.8 days. Approximately 2.3% of the shares of the company are short sold.
RGA has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $137.00 price objective on shares of Reinsurance Group of America in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $134.00 price objective on shares of Reinsurance Group of America in a research note on Tuesday, October 10th. Wells Fargo & Company reiterated a “hold” rating and issued a $131.00 price objective on shares of Reinsurance Group of America in a research note on Thursday, October 26th. Goldman Sachs Group initiated coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price objective on the stock. Finally, Citigroup set a $171.00 price objective on shares of Reinsurance Group of America and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $138.63.
In other Reinsurance Group of America news, EVP John P. Laughlin, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $149.96, for a total transaction of $149,960.00. Following the transaction, the executive vice president now owns 27,277 shares in the company, valued at approximately $4,090,458.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Rose Detrick sold 659 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $149.50, for a total transaction of $98,520.50. Following the transaction, the director now owns 4,023 shares in the company, valued at approximately $601,438.50. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
Shares of Reinsurance Group of America (NYSE:RGA) opened at $164.17 on Thursday. The firm has a market cap of $10,280.00, a price-to-earnings ratio of 14.58, a PEG ratio of 1.59 and a beta of 0.80. Reinsurance Group of America has a 52 week low of $120.81 and a 52 week high of $165.12. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.34.
Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $3.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.82. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.08 billion. Reinsurance Group of America had a net margin of 6.44% and a return on equity of 9.32%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 earnings per share. research analysts forecast that Reinsurance Group of America will post 11.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 7th were paid a $0.50 dividend. The ex-dividend date was Monday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Reinsurance Group of America’s payout ratio is currently 16.47%.
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About Reinsurance Group of America
Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.
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