Reinsurance Group of America, Incorporated (NYSE:RGA) Short Interest Down 27.1% in November
Reinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 368,800 shares, a decrease of 27.1% from the November 15th total of 506,200 shares. Based on an average daily volume of 349,800 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.6% of the shares of the stock are sold short.
Reinsurance Group of America Trading Down 4.0 %
Shares of RGA stock traded down $6.69 during trading hours on Thursday, hitting $159.99. 788,595 shares of the company were exchanged, compared to its average volume of 389,637. The firm has a market cap of $10.54 billion, a PE ratio of 11.36 and a beta of 0.87. Reinsurance Group of America has a 1 year low of $120.99 and a 1 year high of $170.62. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $155.56 and a 200 day moving average of $146.60.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $5.57 earnings per share for the quarter, topping the consensus estimate of $4.28 by $1.29. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $4.36 billion. Reinsurance Group of America had a net margin of 5.29% and a return on equity of 17.43%. Analysts expect that Reinsurance Group of America will post 19.65 earnings per share for the current year.
Reinsurance Group of America Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were issued a $0.85 dividend. The ex-dividend date was Monday, November 13th. This represents a $3.40 annualized dividend and a yield of 2.13%. Reinsurance Group of America’s payout ratio is 24.15%.
Analysts Set New Price Targets
A number of brokerages recently commented on RGA. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $168.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 6th. Morgan Stanley increased their price objective on shares of Reinsurance Group of America from $164.00 to $170.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, Jefferies Financial Group raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $171.00 to $189.00 in a research note on Monday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.64.
Get Our Latest Analysis on RGA
Insider Transactions at Reinsurance Group of America
In other news, EVP Ronald Herrmann sold 510 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $161.05, for a total transaction of $82,135.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.31% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc grew its position in Reinsurance Group of America by 3.3% in the first quarter. CIBC Asset Management Inc now owns 2,183 shares of the insurance provider’s stock valued at $290,000 after acquiring an additional 70 shares in the last quarter. Simplicity Solutions LLC grew its position in Reinsurance Group of America by 3.7% in the second quarter. Simplicity Solutions LLC now owns 2,023 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 72 shares in the last quarter. Snowden Capital Advisors LLC grew its position in Reinsurance Group of America by 1.4% in the second quarter. Snowden Capital Advisors LLC now owns 5,614 shares of the insurance provider’s stock valued at $779,000 after acquiring an additional 75 shares in the last quarter. Aspire Private Capital LLC grew its position in Reinsurance Group of America by 3.7% in the second quarter. Aspire Private Capital LLC now owns 2,143 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 76 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its position in Reinsurance Group of America by 2.0% in the third quarter. Integrated Investment Consultants LLC now owns 3,830 shares of the insurance provider’s stock valued at $556,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.
About Reinsurance Group of America (Get Free Report)
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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