Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Expands By 45.5%

Reinsurance Group of America, Incorporated (NYSE:RGA) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 613,200 shares, a growth of 45.5% from the February 28th total of 421,300 shares. Based on an average daily trading volume, of 519,800 shares, the short-interest ratio is presently 1.2 days. Approximately 0.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of RGA. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Private Trust Co. NA grew its position in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management increased its stake in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 57 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at $44,000. Finally, Versant Capital Management Inc lifted its stake in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI cut their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Barclays decreased their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target 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. Finally, Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $231.85.

Reinsurance Group of America Trading Up 0.3 %

RGA traded up $0.62 during trading on Tuesday, reaching $197.52. The company had a trading volume of 139,767 shares, compared to its average volume of 398,516. The firm’s 50-day simple moving average is $204.41 and its 200 day simple moving average is $213.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 18.39 and a beta of 0.91. Reinsurance Group of America has a 12-month low of $178.84 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Equities research analysts anticipate that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.80%. Reinsurance Group of America’s dividend payout ratio is 33.15%.

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.