Earnest Partners LLC trimmed its position in Everest Re Group Ltd (NYSE:RE) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 584,878 shares of the insurance provider’s stock after selling 9,289 shares during the period. Everest Re Group comprises approximately 1.3% of Earnest Partners LLC’s holdings, making the stock its 11th largest holding. Earnest Partners LLC’s holdings in Everest Re Group were worth $144,570,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Everest Re Group by 16.3% in the 2nd quarter. BlackRock Inc. now owns 3,965,427 shares of the insurance provider’s stock worth $980,173,000 after purchasing an additional 555,838 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Everest Re Group by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 889,250 shares of the insurance provider’s stock worth $192,042,000 after buying an additional 37,765 shares during the period. Geode Capital Management LLC raised its stake in Everest Re Group by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 618,301 shares of the insurance provider’s stock worth $134,440,000 after buying an additional 78,406 shares during the period. Northern Trust Corp raised its stake in Everest Re Group by 0.6% during the 2nd quarter. Northern Trust Corp now owns 503,334 shares of the insurance provider’s stock worth $124,414,000 after buying an additional 2,859 shares during the period. Finally, Bank of Montreal Can raised its stake in Everest Re Group by 21.0% during the 2nd quarter. Bank of Montreal Can now owns 338,205 shares of the insurance provider’s stock worth $83,598,000 after buying an additional 58,773 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.
RE has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Barclays set a $300.00 price objective on Everest Re Group and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, UBS Group raised their price objective on Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $254.71.
RE opened at $251.99 on Friday. The business’s 50-day moving average price is $247.77 and its two-hundred day moving average price is $239.90. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $260.51. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 54.19, a P/E/G ratio of 1.01 and a beta of 0.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37.
Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.66 by $1.19. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. Everest Re Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Sell-side analysts anticipate that Everest Re Group Ltd will post 24.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Everest Re Group’s payout ratio is 120.43%.
In other news, CEO John P. Doucette sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total value of $1,259,850.00. Following the completion of the transaction, the chief executive officer now owns 22,747 shares in the company, valued at approximately $5,731,561.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meryl D. Hartzband acquired 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $242.31 per share, with a total value of $121,155.00. Following the acquisition, the director now directly owns 9,570 shares in the company, valued at $2,318,906.70. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.
Everest Re Group Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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