Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Declines By 32.4%

Key Points

• Short interest in Reinsurance Group of America, Incorporated (NYSE:RGA) decreased by 32.4%, with 334,200 shares short sold as of August 15, down from 494,300 shares at the end of July.
• The company recently announced a quarterly dividend increase to $0.93 per share, reflecting an annualized yield of 1.9% and a payout ratio of 32.29%.
• Wall Street analysts have varying opinions on the stock, with seven rating it as a Buy and four as a Hold, while consensus target price stands at $242.27.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totaling 334,200 shares, adeclineof32.4% from the July 31st total of 494,300 shares. Based on an average daily trading volume, of 404,300 shares, the days-to-cover ratio is currently 0.8 days. Approximately0.5% of the company's stock are short sold. Approximately0.5% of the company's stock are short sold. Based on an average daily trading volume, of 404,300 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RGA. Alpine Bank Wealth Management acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $28,000. Colonial Trust Co SC grew its position in 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 worth $29,000 after buying an additional 57 shares in the last quarter. Golden State Wealth Management LLC grew its position in Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after buying an additional 92 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after buying an additional 121 shares in the last quarter. Finally, TCTC Holdings LLC grew its position in Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.27.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded down $4.56 during trading on Friday, reaching $193.03. 301,898 shares of the stock were exchanged, compared to its average volume of 307,044. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $192.27 and a 200-day moving average price of $193.76. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $233.81. The firm has a market cap of $12.76 billion, a PE ratio of 16.76 and a beta of 0.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.48 EPS. Research analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

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

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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