KCS Wealth Advisory purchased a new position in Everest Re Group Ltd (NYSE:RE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,426 shares of the insurance provider’s stock, valued at approximately $537,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Everest Re Group by 23.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock valued at $956,473,000 after buying an additional 704,287 shares during the period. State Street Corp grew its position in Everest Re Group by 26.4% in the 2nd quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock valued at $549,219,000 after acquiring an additional 450,606 shares during the last quarter. APG Asset Management N.V. grew its position in Everest Re Group by 43.6% in the 3rd quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after acquiring an additional 313,700 shares during the last quarter. JPMorgan Chase & Co. grew its position in Everest Re Group by 22.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 714,377 shares of the insurance provider’s stock valued at $159,219,000 after acquiring an additional 128,867 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Everest Re Group by 5.4% during the 2nd quarter. Northern Trust Corp now owns 676,890 shares of the insurance provider’s stock worth $172,330,000 after buying an additional 34,827 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on RE. Barclays dropped their price target on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $230.00 price objective on shares of Everest Re Group in a research report on Friday, October 13th. Wells Fargo & Co set a $240.00 price objective on Everest Re Group and gave the company a “hold” rating in a research report on Monday, October 30th. Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, TheStreet upgraded Everest Re Group from a “c+” rating to a “b-” rating in a research note on Monday, January 22nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Everest Re Group presently has an average rating of “Hold” and a consensus price target of $252.88.
In related news, Director William F. Galtney, Jr. bought 6,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $225.29 per share, with a total value of $1,351,740.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Graf bought 2,285 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were bought at an average cost of $219.07 per share, with a total value of $500,574.95. Following the completion of the purchase, the director now directly owns 5,550 shares in the company, valued at $1,215,838.50. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 8,323 shares of company stock worth $1,860,654. 1.30% of the stock is currently owned by company insiders.
Shares of Everest Re Group Ltd (NYSE:RE) traded down $0.53 during trading hours on Friday, hitting $229.61. The stock had a trading volume of 346,120 shares, compared to its average volume of 335,713. Everest Re Group Ltd has a 12-month low of $208.81 and a 12-month high of $277.17. The firm has a market capitalization of $9,430.08, a price-to-earnings ratio of 54.67, a PEG ratio of 1.13 and a beta of 0.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33.
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About Everest Re Group
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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