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

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 volume of 519,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.9% of the company’s stock are short sold.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded down $5.60 during midday trading on Friday, hitting $195.69. 278,849 shares of the company were exchanged, compared to its average volume of 399,824. Reinsurance Group of America has a 52 week low of $178.84 and a 52 week high of $233.81. The firm has a market capitalization of $12.92 billion, a P/E ratio of 18.22 and a beta of 0.91. The firm’s 50 day moving average price is $204.94 and its two-hundred day moving average price is $213.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15.

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 for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, 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. Investors of record on Tuesday, February 18th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is 33.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Barclays dropped their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley lowered their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Evercore ISI cut their price objective on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.85.

Institutional Trading of Reinsurance Group of America

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

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.