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

Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of a significant growth in short interest during 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 days-to-cover ratio is currently 1.2 days. Currently, 0.9% of the shares of the company are sold short.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock traded up $0.62 on Tuesday, reaching $197.52. The company’s stock had a trading volume of 139,767 shares, compared to its average volume of 398,516. Reinsurance Group of America has a twelve month low of $178.84 and a twelve month high of $233.81. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 18.39 and a beta of 0.91. 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 business’s fifty day moving average price is $204.41 and its 200 day moving average price is $213.44.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate 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 analysts expect that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after acquiring an additional 893,537 shares during the last quarter. Norges Bank bought a new stake in Reinsurance Group of America during the 4th quarter worth about $174,082,000. FMR LLC lifted its position in Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after purchasing an additional 564,693 shares during the period. Tidal Investments LLC boosted its stake in shares of Reinsurance Group of America by 6,944.4% in the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock valued at $60,963,000 after purchasing an additional 281,317 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Reinsurance Group of America by 34.4% during the 4th quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider’s stock worth $201,802,000 after buying an additional 241,669 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RGA. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays cut their price target on 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. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Wells Fargo & Company raised their target price on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Three research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.85.

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.