USA Financial Portformulas Corp acquired a new stake in Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,837 shares of the insurance provider’s stock, valued at approximately $468,000.
Other hedge funds have also recently made changes to their positions in the company. Capital Fund Management S.A. acquired a new stake in Everest Re Group during the second quarter worth about $7,256,000. OMERS ADMINISTRATION Corp acquired a new stake in Everest Re Group in the second quarter valued at approximately $1,451,000. Swiss National Bank grew its holdings in Everest Re Group by 2.9% in the second quarter. Swiss National Bank now owns 148,975 shares of the insurance provider’s stock valued at $37,928,000 after purchasing an additional 4,200 shares during the period. Stifel Financial Corp grew its holdings in Everest Re Group by 32.1% in the second quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock valued at $2,740,000 after purchasing an additional 2,611 shares during the period. Finally, Aberdeen Asset Management PLC UK grew its holdings in Everest Re Group by 144.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 101,717 shares of the insurance provider’s stock valued at $25,897,000 after purchasing an additional 60,058 shares during the period. 92.16% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on RE. BidaskClub raised Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Barclays PLC raised their target price on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. UBS AG restated a “neutral” rating and issued a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $243.44.
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Shares of Everest Re Group, Ltd. (RE) traded up 0.85% during midday trading on Friday, hitting $236.95. The stock had a trading volume of 534,319 shares. The stock has a 50-day moving average price of $228.72 and a 200-day moving average price of $247.66. Everest Re Group, Ltd. has a 12-month low of $200.17 and a 12-month high of $277.17. The stock has a market cap of $9.73 billion, a P/E ratio of 8.13 and a beta of 0.62.
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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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