Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Decreases By 15.3%
by Mitch Edgeman · The Markets DailyReinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 519,004 shares, a drop of 15.3% from the January 29th total of 612,534 shares. Based on an average daily volume of 598,107 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the company’s stock are sold short. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 598,107 shares, the short-interest ratio is currently 0.9 days.
Wall Street Analysts Forecast Growth
RGA has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Barclays set a $245.00 price target on Reinsurance Group of America and gave the stock an “overweight” rating in a research report on Friday, February 6th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Finally, Morgan Stanley upped their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.75.
Check Out Our Latest Stock Report on RGA
Reinsurance Group of America Stock Performance
Shares of RGA traded down $2.70 on Thursday, reaching $208.13. The company’s stock had a trading volume of 253,519 shares, compared to its average volume of 428,016. The stock’s 50 day simple moving average is $207.81 and its two-hundred day simple moving average is $197.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $13.65 billion, a P/E ratio of 11.73 and a beta of 0.50. Reinsurance Group of America has a 12-month low of $159.25 and a 12-month high of $229.21.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its earnings results on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the prior year, the company earned $4.99 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America’s payout ratio is currently 20.96%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. WCM Investment Management LLC raised its stake in Reinsurance Group of America by 3.6% during the 3rd quarter. WCM Investment Management LLC now owns 2,734,458 shares of the insurance provider’s stock worth $519,356,000 after acquiring an additional 94,479 shares during the period. American Century Companies Inc. raised its position in shares of Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after purchasing an additional 324,239 shares during the period. State Street Corp raised its position in shares of Reinsurance Group of America by 2.8% during the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock valued at $450,823,000 after purchasing an additional 64,296 shares during the period. AQR Capital Management LLC lifted its stake in shares of Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after buying an additional 987,014 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after buying an additional 12,682 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.
Reinsurance Group of America Company Profile
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.