Short Interest in Reinsurance Group of America, Incorporated (NYSE:RGA) Drops By 21.3%

Reinsurance Group of America, Incorporated (NYSE:RGA) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,000,000 shares, a decrease of 21.3% from the September 15th total of 1,270,000 shares. Based on an average trading volume of 695,200 shares, the short-interest ratio is currently 1.4 days.

A number of research analysts have recently weighed in on the company. UBS Group upgraded Reinsurance Group of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $93.00 to $137.00 in a report on Monday, September 21st. Morgan Stanley lifted their price objective on Reinsurance Group of America from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, October 6th. Credit Suisse Group lifted their price objective on Reinsurance Group of America from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, September 18th. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research note on Thursday, September 10th. Finally, Zacks Investment Research raised Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $89.00 price target for the company in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $119.88.

NYSE:RGA traded up $1.26 during mid-day trading on Friday, reaching $104.65. 446,039 shares of the company’s stock traded hands, compared to its average volume of 750,859. Reinsurance Group of America has a 12-month low of $55.39 and a 12-month high of $169.26. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 11.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.15 and a quick ratio of 0.15. The company has a 50 day moving average price of $98.72 and a 200-day moving average price of $91.71.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Tuesday, August 4th. The insurance provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $2.40. Reinsurance Group of America had a return on equity of 5.79% and a net margin of 3.99%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business earned $3.31 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Reinsurance Group of America will post 7.44 EPS for the current year.

Several hedge funds have recently bought and sold shares of RGA. APG Asset Management N.V. grew its holdings in Reinsurance Group of America by 60.2% in the first quarter. APG Asset Management N.V. now owns 97,168 shares of the insurance provider’s stock worth $8,176,000 after purchasing an additional 36,519 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Reinsurance Group of America by 148.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,234 shares of the insurance provider’s stock worth $1,821,000 after buying an additional 13,900 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Reinsurance Group of America by 47.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,457 shares of the insurance provider’s stock worth $2,781,000 after buying an additional 11,404 shares during the period. Rafferty Asset Management LLC acquired a new stake in shares of Reinsurance Group of America during the second quarter worth $1,097,000. Finally, Vanguard Group Inc. lifted its stake in shares of Reinsurance Group of America by 14.9% during the second quarter. Vanguard Group Inc. now owns 7,002,279 shares of the insurance provider’s stock worth $549,258,000 after buying an additional 908,747 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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, as well as asset-intensive and financial reinsurance products.

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