Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Up 17.2% in May

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 507,700 shares, an increase of 17.2% from the April 30th total of 433,200 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 450,300 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Reinsurance Group of America

Several institutional investors and hedge funds have recently modified their holdings of RGA. Colonial Trust Co SC lifted its stake in shares of Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after buying an additional 57 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Reinsurance Group of America in the first quarter worth $28,000. Golden State Wealth Management LLC increased its position in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares in the last quarter. TCTC Holdings LLC boosted its stake in shares of Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Reinsurance Group of America by 224.1% in the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Price Performance

RGA stock traded up $5.00 during trading on Friday, reaching $206.32. 257,722 shares of the company were exchanged, compared to its average volume of 412,941. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a market cap of $13.64 billion, a P/E ratio of 19.21 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The stock's 50 day moving average price is $193.41 and its 200 day moving average price is $204.65.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the firm earned $6.02 earnings per share. The company's revenue for the quarter was down 17.0% compared to the same quarter last year. As a group, analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Tuesday, May 13th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 30.04%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RGA shares. Piper Sandler dropped 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 note on Monday, February 10th. Evercore ISI dropped their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a "neutral" rating and set a $216.00 price target (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and a consensus price target of $228.85.

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.