Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Down 33.5% in January

Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 277,000 shares, a decline of 33.5% from the January 15th total of 416,500 shares. Based on an average daily volume of 426,300 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Piper Sandler dropped their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Barclays decreased their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley reduced their price target on shares of 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RGA. Vanguard Group Inc. grew its stake in shares of Reinsurance Group of America by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after acquiring an additional 51,733 shares in the last quarter. FMR LLC lifted its holdings in shares of Reinsurance Group of America by 11.1% in the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after acquiring an additional 564,693 shares during the last quarter. WCM Investment Management LLC grew its position in Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after acquiring an additional 33,082 shares during the last quarter. Alliancebernstein L.P. boosted its holdings 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 purchasing an additional 893,537 shares during the period. Finally, Geode Capital Management LLC increased its position in Reinsurance Group of America by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after purchasing an additional 4,106 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 2.3 %

RGA traded down $4.78 on Friday, hitting $199.72. 878,524 shares of the company were exchanged, compared to its average volume of 349,454. Reinsurance Group of America has a 12 month low of $167.80 and a 12 month high of $233.81. The company has a market cap of $13.15 billion, a PE ratio of 18.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s fifty day moving average is $216.39 and its 200-day moving average is $216.67.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 EPS 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 14.80%. Equities research analysts predict that Reinsurance Group of America will post 23.14 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.78%. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

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.