Utah Retirement Systems held its position in Everest Re Group Ltd (NYSE:RE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,668 shares of the insurance provider’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Everest Re Group were worth $1,792,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of RE. Capstone Investment Advisors LLC bought a new stake in Everest Re Group during the fourth quarter valued at about $735,000. State Street Corp raised its stake in Everest Re Group by 5.7% in the fourth quarter. State Street Corp now owns 1,668,648 shares of the insurance provider’s stock valued at $361,099,000 after buying an additional 90,494 shares during the last quarter. Accident Compensation Corp raised its stake in Everest Re Group by 14.9% in the third quarter. Accident Compensation Corp now owns 23,200 shares of the insurance provider’s stock valued at $4,407,000 after buying an additional 3,000 shares during the last quarter. Norges Bank bought a new stake in Everest Re Group during the fourth quarter valued at about $131,042,000. Finally, BP PLC bought a new stake in Everest Re Group during the fourth quarter valued at about $1,191,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Shares of Everest Re Group Ltd (RE) traded down 0.79% during trading on Tuesday, reaching $252.08. The company’s stock had a trading volume of 220,326 shares. Everest Re Group Ltd has a 12 month low of $169.19 and a 12 month high of $258.30. The stock’s 50 day moving average price is $246.00 and its 200-day moving average price is $230.09. The firm has a market cap of $10.35 billion, a PE ratio of 9.41 and a beta of 0.49.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, April 24th. The insurance provider reported $6.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.35 by $0.94. Everest Re Group had a net margin of 17.19% and a return on equity of 12.44%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $5.19 EPS. Equities analysts predict that Everest Re Group Ltd will post $20.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $5.00 annualized dividend and a dividend yield of 1.98%. Everest Re Group’s payout ratio is currently 21.00%.
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Several analysts recently issued reports on RE shares. Deutsche Bank AG reiterated a “buy” rating and set a $262.00 target price (up previously from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 target price on the stock in a report on Tuesday, April 18th. Wells Fargo & Co reiterated a “hold” rating on shares of Everest Re Group in a report on Monday, April 24th. Barclays PLC upped their target price on Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Finally, ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $234.83.
In other news, Director John R. Dunne sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $234.75, for a total transaction of $117,375.00. Following the completion of the sale, the director now owns 12,079 shares in the company, valued at approximately $2,835,545.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John P. Doucette sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $256.03, for a total transaction of $256,030.00. Following the sale, the vice president now owns 21,834 shares of the company’s stock, valued at approximately $5,590,159.02. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Everest Re Group Company Profile
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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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