Alps Advisors Inc. boosted its stake in Everest Re Group Ltd. (NYSE:RE) by 27.7% during the second quarter, Holdings Channel reports. The institutional investor owned 2,820 shares of the company’s stock after buying an additional 612 shares during the period. Alps Advisors Inc.’s holdings in Everest Re Group were worth $515,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased its position in Everest Re Group by 3.5% in the second quarter. Checchi Capital Advisers LLC now owns 619 shares of the company’s stock worth $113,000 after buying an additional 21 shares during the period. MU Investments Co. Ltd. bought a new position in Everest Re Group during the second quarter worth $165,000. Boys Arnold & Co. Inc. bought a new position in Everest Re Group during the second quarter worth $281,000. Seven Eight Capital LLC bought a new position in Everest Re Group during the first quarter worth $375,000. Finally, BlueMountain Capital Management LLC increased its position in Everest Re Group by 82.1% in the first quarter. BlueMountain Capital Management LLC now owns 1,930 shares of the company’s stock worth $381,000 after buying an additional 870 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
Everest Re Group Ltd. (NYSE:RE) traded down 0.96% during trading on Monday, reaching $188.15. The company’s stock had a trading volume of 229,036 shares. The stock’s 50-day moving average is $190.94 and its 200 day moving average is $186.48. The company has a market cap of $7.88 billion, a P/E ratio of 10.50 and a beta of 0.63. Everest Re Group Ltd. has a 12 month low of $167.07 and a 12 month high of $199.98.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, July 25th. The company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.32. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. During the same quarter in the previous year, the firm posted $5.03 earnings per share. On average, equities analysts forecast that Everest Re Group Ltd. will post $16.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, September 2nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.44%. Everest Re Group’s payout ratio is presently 25.66%.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research note on Tuesday, September 27th. Barclays PLC restated an “overweight” rating and issued a $215.00 price objective on shares of Everest Re Group in a research report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $202.40.
In other news, Director John R. Dunne sold 200 shares of Everest Re Group stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total transaction of $38,006.00. Following the transaction, the director now owns 10,579 shares in the company, valued at $2,010,327.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John P. Doucette sold 1,840 shares of Everest Re Group stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total transaction of $349,305.60. Following the transaction, the vice president now owns 23,265 shares in the company, valued at approximately $4,416,627.60. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
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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