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

Reinsurance Group of America, Incorporated (NYSE:RGA) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 315,900 shares, an increase of 16.4% from the November 15th total of 271,500 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 330,300 shares, the short-interest ratio is currently 1.0 days.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Reinsurance Group of America by 8.9% during the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after buying an additional 50 shares during the period. Resonant Capital Advisors LLC increased its position 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 buying an additional 53 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the period. Baron Wealth Management LLC increased its holdings in shares of Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after purchasing an additional 64 shares during the period. Finally, Tectonic Advisors LLC increased its holdings in shares of Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock valued at $514,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 1.4 %

Shares of RGA traded down $2.89 during midday trading on Tuesday, reaching $208.56. The company had a trading volume of 53,393 shares, compared to its average volume of 354,600. The firm has a 50 day simple moving average of $220.21 and a 200-day simple moving average of $214.33. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.74 billion, a PE ratio of 19.42 and a beta of 0.93. Reinsurance Group of America has a 1-year low of $159.82 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $5.57 EPS. Research analysts forecast that Reinsurance Group of America will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio is presently 32.69%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RGA. Barclays lifted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

About Reinsurance Group of America

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.