Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Down 17.0% in September

Reinsurance Group of America, Incorporated (NYSE:RGA) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 279,300 shares, a decline of 17.0% from the August 31st total of 336,700 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 365,100 shares, the short-interest ratio is currently 0.8 days.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently made changes to their positions in RGA. Sanctuary Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the second quarter worth approximately $1,925,000. Maven Securities LTD purchased a new position in Reinsurance Group of America during the second quarter worth approximately $205,000. Cetera Investment Advisers boosted its holdings in shares of Reinsurance Group of America by 10.4% in the 2nd quarter. Cetera Investment Advisers now owns 17,763 shares of the insurance provider’s stock valued at $3,646,000 after purchasing an additional 1,672 shares during the last quarter. Quarry LP purchased a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $151,000. Finally, Creative Planning grew its stake in shares of Reinsurance Group of America by 4.7% during the 2nd quarter. Creative Planning now owns 10,056 shares of the insurance provider’s stock valued at $2,064,000 after buying an additional 451 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock traded down $2.97 during mid-day trading on Friday, hitting $215.61. 388,963 shares of the company were exchanged, compared to its average volume of 243,455. The business’s 50 day simple moving average is $213.38 and its two-hundred day simple moving average is $204.48. Reinsurance Group of America has a 12-month low of $140.39 and a 12-month high of $227.87. The company has a market capitalization of $14.20 billion, a P/E ratio of 16.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.40 earnings per share. Analysts forecast that Reinsurance Group of America will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Wall Street Analyst Weigh In

RGA has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Evercore ISI raised their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Jefferies Financial Group upped their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley dropped their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $225.17.

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.