Reinsurance Group of America, Incorporated (NYSE:RGA) Sees Significant Decrease in Short Interest

Reinsurance Group of America, Incorporated (NYSE:RGA) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 281,900 shares, a drop of 19.8% from the July 15th total of 351,600 shares. Based on an average daily volume of 402,400 shares, the short-interest ratio is currently 0.7 days. Currently, 0.4% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities analysts recently commented on RGA shares. Piper Sandler raised their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. UBS Group upped their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Evercore ISI upped their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their target price on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.73.

Reinsurance Group of America Stock Up 1.5 %

RGA traded up $3.00 on Friday, reaching $209.38. The company’s stock had a trading volume of 282,148 shares, compared to its average volume of 377,190. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $227.87. The stock has a 50 day moving average of $208.75 and a two-hundred day moving average of $195.69. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 16.27 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the firm posted $4.40 EPS. The company’s revenue was up 17.4% on a year-over-year basis. As a group, analysts forecast that Reinsurance Group of America will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.70%. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RGA. Lindbrook Capital LLC increased its holdings in shares of Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares during the period. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of Reinsurance Group of America during the first quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America in the 2nd quarter valued at about $28,000. Finally, Rise Advisors LLC purchased a new stake in Reinsurance Group of America during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.