Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Grows By 35.7%

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 421,300 shares, a growth of 35.7% from the February 13th total of 310,500 shares. Based on an average daily volume of 504,400 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RGA. Oppenheimer & Co. Inc. purchased a new position in Reinsurance Group of America during the third quarter worth about $242,000. KBC Group NV raised its holdings in Reinsurance Group of America by 14.7% during the third quarter. KBC Group NV now owns 1,705 shares of the insurance provider's stock worth $371,000 after purchasing an additional 219 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Reinsurance Group of America by 5.5% during the third quarter. CIBC Asset Management Inc now owns 2,348 shares of the insurance provider's stock worth $512,000 after purchasing an additional 123 shares in the last quarter. Empowered Funds LLC purchased a new position in Reinsurance Group of America during the third quarter worth about $4,912,000. Finally, Natixis Advisors LLC raised its holdings in Reinsurance Group of America by 31.1% during the third quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider's stock worth $42,201,000 after purchasing an additional 45,924 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Barclays cut their target price on Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average target price of $231.85.

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Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded down $0.15 on Thursday, reaching $191.92. The company's stock had a trading volume of 157,072 shares, compared to its average volume of 377,874. The stock's 50-day moving average is $208.15 and its two-hundred day moving average is $214.41. Reinsurance Group of America has a 52-week low of $178.84 and a 52-week high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The stock has a market capitalization of $12.67 billion, a P/E ratio of 17.88 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts' consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. As a group, sell-side analysts forecast that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. Reinsurance Group of America's payout ratio is 33.15%.

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.