Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Up 49.0% in September

Key Points

• Short interest in Reinsurance Group of America surged by 49.0% in September, reaching a total of 570,600 shares as of September 15th.
• The company declared a quarterly dividend of $0.93 per share, up from the previous dividend of $0.89, yielding 1.9% annually.
• Despite missing earnings estimates, the company reported a 14.8% increase in revenue year-over-year, reaching $5.60 billion for the quarter.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 570,600 shares, a growth of 49.0% from the August 31st total of 383,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 457,100 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 457,100 shares, the short-interest ratio is currently 1.2 days. Approximately 0.9% of the shares of the company are short sold.

Reinsurance Group of America Stock Performance

NYSE RGA traded up $0.18 on Tuesday, reaching $197.61. The stock had a trading volume of 417,728 shares, compared to its average volume of 459,033. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a fifty day moving average of $190.18 and a two-hundred day moving average of $193.38. Reinsurance Group of America has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a market cap of $13.06 billion, a P/E ratio of 17.15 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business posted $5.48 EPS. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.29%.

Analyst Upgrades and Downgrades

RGA has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating on shares of Reinsurance Group of America in a research note on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Reinsurance Group of America in a research note on Saturday, September 27th. Wells Fargo & Company reduced their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley reduced their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Reinsurance Group of America by 38.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock valued at $1,729,000 after buying an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Reinsurance Group of America by 13.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC lifted its stake in 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 valued at $29,000 after buying an additional 92 shares during the period. Asset Management One Co. Ltd. lifted its stake in Reinsurance Group of America by 1,265.2% in the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after buying an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Reinsurance Group of America by 7.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after buying an additional 12,217 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

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.

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