Crestline Management LP acquired a new stake in shares of Everest Re Group, Ltd. (NYSE:RE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,479 shares of the insurance provider’s stock, valued at approximately $2,850,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in Everest Re Group by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 937 shares of the insurance provider’s stock worth $239,000 after buying an additional 42 shares during the last quarter. IFP Advisors Inc boosted its stake in Everest Re Group by 29.1% in the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after buying an additional 148 shares during the last quarter. New Mexico Educational Retirement Board acquired a new stake in Everest Re Group in the 2nd quarter worth about $997,000. Trexquant Investment LP acquired a new stake in Everest Re Group in the 2nd quarter worth about $509,000. Finally, Wetherby Asset Management Inc. boosted its stake in Everest Re Group by 2.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock worth $330,000 after buying an additional 25 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.
RE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Buckingham Research initiated coverage on Everest Re Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $255.00 price target on the stock. ValuEngine lowered Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. UBS cut their price objective on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, September 19th. Finally, Wells Fargo & Company set a $240.00 price objective on Everest Re Group and gave the stock a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Everest Re Group has an average rating of “Hold” and a consensus price target of $250.56.
Everest Re Group, Ltd. (NYSE RE) traded up $1.92 during trading on Monday, hitting $212.28. The stock had a trading volume of 609,700 shares, compared to its average volume of 411,149. The stock has a market cap of $8,718.27, a P/E ratio of 50.54, a price-to-earnings-growth ratio of 12.40 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group, Ltd. has a 52 week low of $208.81 and a 52 week high of $277.17.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $6.53 earnings per share. analysts expect that Everest Re Group, Ltd. will post 1.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, November 28th. Everest Re Group’s dividend payout ratio (DPR) is 81.63%.
In related news, Director William F. Galtney, Jr. bought 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $225.29 per share, for a total transaction of $1,351,740.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
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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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