Retirement Systems of Alabama decreased its stake in Everest Re Group Ltd. (NYSE:RE) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,617 shares of the company’s stock after selling 436 shares during the period. Retirement Systems of Alabama’s holdings in Everest Re Group were worth $9,977,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of RE. Legal & General Group Plc boosted its position in Everest Re Group by 1.1% in the first quarter. Legal & General Group Plc now owns 233,009 shares of the company’s stock worth $45,988,000 after buying an additional 2,496 shares during the period. Renaissance Technologies LLC boosted its position in Everest Re Group by 145.1% in the first quarter. Renaissance Technologies LLC now owns 204,200 shares of the company’s stock worth $40,315,000 after buying an additional 120,900 shares during the period. Panagora Asset Management Inc. boosted its position in Everest Re Group by 27.0% in the first quarter. Panagora Asset Management Inc. now owns 314,265 shares of the company’s stock worth $62,045,000 after buying an additional 66,860 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Everest Re Group by 4.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 396,325 shares of the company’s stock worth $72,395,000 after buying an additional 15,506 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Everest Re Group during the first quarter worth approximately $2,948,000. 91.98% of the stock is owned by institutional investors and hedge funds.
Everest Re Group Ltd. (NYSE:RE) traded down 0.75% during mid-day trading on Thursday, reaching $184.24. 487,343 shares of the company’s stock were exchanged. Everest Re Group Ltd. has a one year low of $167.07 and a one year high of $199.98. The stock has a 50-day moving average of $190.70 and a 200-day moving average of $186.45. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 10.29 and a beta of 0.63.
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, beating the Zacks’ consensus estimate of $2.85 by $0.32. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.30 billion. Everest Re Group had a return on equity of 11.78% and a net margin of 13.79%. During the same quarter in the previous year, the firm earned $5.03 EPS. On average, equities research analysts anticipate that Everest Re Group Ltd. will post $17.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, September 2nd. Everest Re Group’s payout ratio is presently 25.66%.
RE has been the subject of a number of research reports. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods raised 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 report on Wednesday, July 27th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $215.00 price objective on shares of Everest Re Group in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $202.40.
In other news, VP John P. Doucette sold 1,840 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total transaction of $349,305.60. Following the completion of the transaction, the vice president now owns 23,265 shares of the company’s stock, valued at $4,416,627.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Dunne sold 200 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total value of $38,006.00. Following the transaction, the director now directly owns 10,579 shares of the company’s stock, valued at approximately $2,010,327.37. 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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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