Reinsurance Group of America Inc (NYSE:RGA) Short Interest Update

Reinsurance Group of America Inc (NYSE:RGA) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 742,900 shares, a decrease of 33.1% from the August 15th total of 1,110,000 shares. Based on an average daily trading volume, of 798,600 shares, the days-to-cover ratio is currently 0.9 days.

RGA stock traded down $2.23 during mid-day trading on Tuesday, hitting $102.23. 611,600 shares of the company were exchanged, compared to its average volume of 782,102. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market cap of $7.10 billion, a P/E ratio of 11.61 and a beta of 1.15. The firm’s 50 day simple moving average is $92.96 and its 200 day simple moving average is $91.46. Reinsurance Group of America has a 1-year low of $55.39 and a 1-year high of $169.26.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $1.36 EPS for the quarter, topping the consensus estimate of ($1.04) by $2.40. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.57 billion. Reinsurance Group of America had a net margin of 3.99% and a return on equity of 5.79%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $3.31 EPS. On average, equities research analysts predict that Reinsurance Group of America will post 7.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. Reinsurance Group of America’s dividend payout ratio is currently 20.97%.

RGA has been the topic of several analyst reports. Zacks Investment Research raised shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $89.00 target price on the stock in a report on Tuesday, August 4th. UBS Group lowered their target price on shares of Reinsurance Group of America from $136.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Piper Sandler raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $112.00 in a report on Tuesday, September 8th. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Finally, ValuEngine raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating in a report on Thursday, September 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $114.88.

Several large investors have recently added to or reduced their stakes in RGA. Amundi Pioneer Asset Management Inc. grew its stake in shares of Reinsurance Group of America by 9.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 24,507 shares of the insurance provider’s stock valued at $3,479,000 after buying an additional 2,077 shares in the last quarter. KBC Group NV boosted its position in Reinsurance Group of America by 69.8% during the first quarter. KBC Group NV now owns 7,476 shares of the insurance provider’s stock worth $629,000 after purchasing an additional 3,073 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in Reinsurance Group of America by 2.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 5,851 shares of the insurance provider’s stock worth $492,000 after purchasing an additional 126 shares during the period. New York State Common Retirement Fund boosted its position in Reinsurance Group of America by 6.4% during the first quarter. New York State Common Retirement Fund now owns 477,066 shares of the insurance provider’s stock worth $40,140,000 after purchasing an additional 28,720 shares during the period. Finally, Rhumbline Advisers boosted its position in Reinsurance Group of America by 12.2% during the first quarter. Rhumbline Advisers now owns 178,406 shares of the insurance provider’s stock worth $15,011,000 after purchasing an additional 19,439 shares during the period. 96.06% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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