Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Expands By 26.4%

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 27th, there was short interest totaling 655,951 shares, an increase of 26.4% from the February 12th total of 519,004 shares. Based on an average daily trading volume, of 409,801 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the shares of the company are short sold. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 409,801 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in shares of Reinsurance Group of America by 3.2% during the 3rd quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider’s stock valued at $34,999,000 after buying an additional 5,586 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Reinsurance Group of America by 94.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock worth $3,555,000 after buying an additional 8,971 shares in the last quarter. Algebris UK Ltd. bought a new stake in Reinsurance Group of America during the third quarter valued at about $10,750,000. Nuance Investments LLC raised its holdings in Reinsurance Group of America by 30.6% during the third quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider’s stock valued at $9,094,000 after acquiring an additional 11,095 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Reinsurance Group of America by 1.6% in the third quarter. Federated Hermes Inc. now owns 354,762 shares of the insurance provider’s stock valued at $68,160,000 after acquiring an additional 5,651 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

RGA stock traded up $5.14 during midday trading on Tuesday, reaching $207.49. 20,387 shares of the company’s stock traded hands, compared to its average volume of 411,111. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.42. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $229.21. The stock has a market cap of $13.60 billion, a P/E ratio of 11.67 and a beta of 0.50. The stock’s 50-day moving average is $207.94 and its 200 day moving average is $198.43.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.99 EPS. As a group, analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, February 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.8%. Reinsurance Group of America’s payout ratio is 20.96%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RGA shares. Barclays set a $245.00 price target on shares of Reinsurance Group of America and gave the company an “overweight” rating in a report on Friday, February 6th. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Morgan Stanley raised their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $244.57.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.