Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Up 16.4% in November

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Piper Sandler boosted their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased 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. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. bought a new stake in shares of Reinsurance Group of America during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth approximately $29,000. Private Trust Co. NA raised its stake in shares of Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Wolff Wiese Magana LLC bought a new stake in shares of Reinsurance Group of America during the 3rd quarter worth approximately $34,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.4 %

NYSE:RGA opened at $212.27 on Friday. Reinsurance Group of America has a twelve month low of $157.48 and a twelve month high of $233.81. 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 business has a 50 day moving average price of $220.22 and a two-hundred day moving average price of $214.28. The company has a market cap of $13.98 billion, a P/E ratio of 19.49 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the firm posted $5.57 EPS. The business’s revenue was up 9.7% on a year-over-year basis. As a group, analysts expect 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 dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

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.