Pictet Asset Management Ltd. Purchases 900 Shares of Everest Re Group Ltd (NYSE:RE)

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Pictet Asset Management Ltd. raised its position in Everest Re Group Ltd (NYSE:RE) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,633 shares of the insurance provider’s stock after purchasing an additional 900 shares during the period. Pictet Asset Management Ltd.’s holdings in Everest Re Group were worth $4,853,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Oakworth Capital Inc. bought a new stake in shares of Everest Re Group during the 2nd quarter worth $34,000. Advisory Services Network LLC bought a new stake in shares of Everest Re Group during the 2nd quarter worth $51,000. Asset Dedication LLC bought a new stake in shares of Everest Re Group during the 2nd quarter worth $62,000. Private Ocean LLC bought a new stake in shares of Everest Re Group during the 2nd quarter worth $69,000. Finally, First Interstate Bank lifted its holdings in shares of Everest Re Group by 55.4% during the 2nd quarter. First Interstate Bank now owns 359 shares of the insurance provider’s stock worth $89,000 after acquiring an additional 128 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

In other Everest Re Group news, CEO John P. Doucette sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $251.97, for a total value of $1,259,850.00. Following the transaction, the chief executive officer now owns 22,747 shares in the company, valued at $5,731,561.59. The transaction 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 on Friday, August 2nd. The stock was purchased 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 of the company’s stock, valued at approximately $2,318,906.70. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

A number of research firms have recently issued reports on RE. Barclays set a $300.00 price objective on shares of Everest Re Group and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley dropped their price objective on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Credit Suisse Group set a $256.00 price objective on shares of Everest Re Group and gave the stock a “hold” rating in a report on Sunday. UBS Group lifted their price objective on shares of Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, ValuEngine downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $254.57.

NYSE:RE traded up $1.45 during trading hours on Tuesday, reaching $256.40. The company’s stock had a trading volume of 33,425 shares, compared to its average volume of 292,777. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 1.03 and a beta of 0.25. The firm has a 50-day simple moving average of $247.64 and a 200-day simple moving average of $240.54. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $260.51. 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 (NYSE:RE) last issued its earnings results on Monday, July 29th. The insurance provider reported $7.85 EPS for the quarter, topping analysts’ consensus estimates of $6.66 by $1.19. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Equities analysts anticipate that Everest Re Group Ltd will post 24.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, September 3rd. Everest Re Group’s payout ratio is presently 120.43%.

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

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