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

Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of 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. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 330,300 shares, the short-interest ratio is presently 1.0 days.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $3.15 during mid-day trading on Tuesday, reaching $208.30. The company’s stock had a trading volume of 60,723 shares, compared to its average volume of 354,696. Reinsurance Group of America has a 12-month low of $159.82 and a 12-month high of $233.81. The firm’s fifty day moving average price is $220.21 and its two-hundred day moving average price is $214.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $13.72 billion, a P/E ratio of 19.42 and a beta of 0.93.

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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.57 EPS. Sell-side analysts predict that Reinsurance Group of America will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

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

Insider Activity at Reinsurance Group of America

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

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Reinsurance Group of America by 9.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,701 shares of the insurance provider’s stock worth $760,000 after buying an additional 307 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Reinsurance Group of America in the second quarter valued at approximately $272,000. Summit Global Investments boosted its position in Reinsurance Group of America by 20.6% during the 2nd quarter. Summit Global Investments now owns 6,494 shares of the insurance provider’s stock valued at $1,333,000 after buying an additional 1,111 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Reinsurance Group of America in the 2nd quarter worth $453,000. Finally, Lecap Asset Management Ltd. increased its position in shares of Reinsurance Group of America by 59.5% in the second quarter. Lecap Asset Management Ltd. now owns 8,681 shares of the insurance provider’s stock valued at $1,782,000 after acquiring an additional 3,237 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Royal Bank of Canada boosted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

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.