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

by · The Markets Daily

Reinsurance Group of America, Incorporated (NYSE:RGAGet Free Report) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 655,951 shares, a growth of 26.4% from the February 12th total of 519,004 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 409,801 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 409,801 shares, the short-interest ratio is currently 1.6 days. Approximately 1.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

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Institutional Trading of Reinsurance Group of America

Several large investors have recently bought and sold shares of the company. Millstone Evans Group LLC boosted its position in shares of Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Activest Wealth Management purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $30,000. Root Financial Partners LLC purchased a new position in Reinsurance Group of America during the 3rd quarter valued at about $33,000. Tobam raised its position in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Reinsurance Group of America during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

RGA traded up $1.11 on Monday, hitting $202.62. 347,562 shares of the company were exchanged, compared to its average volume of 367,520. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $229.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $13.28 billion, a P/E ratio of 11.42 and a beta of 0.50. The business’s fifty day moving average is $207.94 and its 200 day moving average is $198.43.

Reinsurance Group of America (NYSE:RGAGet Free Report) last posted its quarterly earnings results 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 company 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% on a year-over-year basis. During the same period last year, the firm earned $4.99 EPS. As a group, sell-side analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

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

Reinsurance Group of America Company Profile

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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.

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