Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Down 26.1% in April

Reinsurance Group of America, Incorporated (NYSE:RGA) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 379,300 shares, a decline of 26.1% from the March 31st total of 513,100 shares. Based on an average trading volume of 351,800 shares, the short-interest ratio is currently 1.1 days. Approximately 0.6% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the transaction, the executive vice president now owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the sale, the executive vice president now owns 13,625 shares in the company, valued at $2,341,183.75. The disclosure for this sale can be found here. Insiders sold 6,462 shares of company stock worth $1,162,239 in the last 90 days. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp grew its holdings in Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after buying an additional 70 shares during the period. Tectonic Advisors LLC grew its holdings in Reinsurance Group of America by 4.3% in the fourth quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 82 shares during the period. Lindbrook Capital LLC increased its position in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Private Advisor Group LLC increased its position in Reinsurance Group of America by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after purchasing an additional 92 shares during the last quarter. Finally, Aspire Private Capital LLC raised its stake in Reinsurance Group of America by 4.8% during the third quarter. Aspire Private Capital LLC now owns 2,246 shares of the insurance provider’s stock worth $326,000 after purchasing an additional 103 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RGA. Royal Bank of Canada restated an “outperform” rating and set a $212.00 price objective on shares of Reinsurance Group of America in a research report on Friday, April 12th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Piper Sandler increased their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $194.38.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $188.78 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America has a one year low of $133.13 and a one year high of $196.25. The business’s fifty day moving average price is $184.46 and its two-hundred day moving average price is $169.25. The stock has a market cap of $12.42 billion, a PE ratio of 14.06 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the business posted $2.99 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, analysts forecast that Reinsurance Group of America will post 19.41 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio (DPR) is 25.32%.

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.