Davis Selected Advisers continued to hold its position in shares of Everest Re Group, Ltd. (NYSE:RE) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 197,762 shares of the company’s stock at the end of the fourth quarter. Davis Selected Advisers owned approximately 0.48% of Everest Re Group worth $42,796,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RE. BlackRock Fund Advisors raised its position in shares of Everest Re Group by 3.0% in the third quarter. BlackRock Fund Advisors now owns 1,976,558 shares of the company’s stock valued at $375,487,000 after buying an additional 57,819 shares during the period. Vulcan Value Partners LLC raised its position in Everest Re Group by 3.3% in the second quarter. Vulcan Value Partners LLC now owns 1,959,721 shares of the company’s stock valued at $357,983,000 after buying an additional 61,767 shares during the last quarter. State Street Corp raised its position in Everest Re Group by 5.7% in the fourth quarter. State Street Corp now owns 1,668,648 shares of the company’s stock valued at $361,099,000 after buying an additional 90,494 shares during the last quarter. JPMorgan Chase & Co. raised its position in Everest Re Group by 38.2% in the third quarter. JPMorgan Chase & Co. now owns 1,337,026 shares of the company’s stock valued at $253,995,000 after buying an additional 369,601 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Everest Re Group by 13.2% in the third quarter. APG Asset Management N.V. now owns 617,227 shares of the company’s stock valued at $117,255,000 after buying an additional 71,965 shares during the last quarter. 91.37% of the stock is currently owned by institutional investors.
Shares of Everest Re Group, Ltd. (NYSE:RE) traded up 0.21% during mid-day trading on Tuesday, reaching $233.57. 290,807 shares of the company’s stock traded hands. Everest Re Group, Ltd. has a 12 month low of $169.19 and a 12 month high of $234.44. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 9.86 and a beta of 0.49. The company has a 50 day moving average of $220.77 and a 200 day moving average of $204.30.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, February 6th. The company reported $8.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $5.27. Everest Re Group had a return on equity of 12.44% and a net margin of 17.19%. The firm earned $1.61 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm posted $8.17 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that Everest Re Group, Ltd. will post $18.71 earnings per share for the current fiscal year.
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Several research analysts recently weighed in on RE shares. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, December 19th. Goldman Sachs Group, Inc. (The) raised shares of Everest Re Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $166.00 to $195.00 in a research note on Tuesday, November 15th. Macquarie lowered shares of Everest Re Group from a “neutral” rating to an “underperform” rating and set a $186.00 price objective on the stock. in a research note on Tuesday, January 17th. Finally, Barclays PLC lifted their price objective on shares of Everest Re Group from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $215.67.
In other news, Director John A. Weber sold 4,000 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $228.00, for a total transaction of $912,000.00. Following the completion of the transaction, the director now owns 8,557 shares in the company, valued at approximately $1,950,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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