Bessemer Group Inc. Sells 41 Shares of Everest Re Group Ltd (NYSE:RE)

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Bessemer Group Inc. decreased its holdings in shares of Everest Re Group Ltd (NYSE:RE) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,304 shares of the insurance provider’s stock after selling 41 shares during the period. Bessemer Group Inc.’s holdings in Everest Re Group were worth $3,535,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in shares of Everest Re Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,409,589 shares of the insurance provider’s stock valued at $736,334,000 after acquiring an additional 27,203 shares during the last quarter. Boston Partners raised its position in shares of Everest Re Group by 4.9% during the 1st quarter. Boston Partners now owns 2,577,488 shares of the insurance provider’s stock valued at $556,635,000 after acquiring an additional 120,615 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of 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 valued at $192,042,000 after acquiring an additional 37,765 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 valued at $134,440,000 after acquiring an additional 78,406 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Everest Re Group by 5.3% during the 1st quarter. TD Asset Management Inc. now owns 309,084 shares of the insurance provider’s stock valued at $66,750,000 after acquiring an additional 15,611 shares during the last quarter. Institutional investors own 90.45% of the company’s stock.

RE opened at $239.15 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.37. Everest Re Group Ltd has a 12 month low of $201.09 and a 12 month high of $260.51. The company has a fifty day moving average price of $252.09. The company has a market cap of $9.90 billion, a PE ratio of 51.43, a P/E/G ratio of 0.98 and a beta of 0.25.

Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 EPS for the quarter, beating the Zacks’ consensus estimate of $6.66 by $1.19. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that Everest Re Group Ltd will post 24.73 earnings per share for the current year.

In other news, Director Meryl D. Hartzband acquired 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $242.31 per share, for a total transaction of $121,155.00. Following the transaction, the director now directly owns 9,570 shares in the company, valued at $2,318,906.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Zaffino sold 1,048 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total transaction of $259,914.48. Following the completion of the sale, the senior vice president now owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Several brokerages have commented on RE. ValuEngine cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. UBS Group upped their target price on shares of Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Barclays upped their target price on shares of Everest Re Group from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Morgan Stanley dropped their target price on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Everest Re Group presently has an average rating of “Hold” and an average target price of $252.57.

About Everest Re Group

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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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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