Brandywine Global Investment Management LLC Has $8.73 Million Holdings in Everest Re Group Ltd (NYSE:RE)

Brandywine Global Investment Management LLC reduced its stake in Everest Re Group Ltd (NYSE:RE) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,430 shares of the insurance provider’s stock after selling 6,864 shares during the period. Brandywine Global Investment Management LLC owned about 0.10% of Everest Re Group worth $8,725,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RE. State of Wisconsin Investment Board increased its stake in shares of Everest Re Group by 51.1% during the third quarter. State of Wisconsin Investment Board now owns 57,250 shares of the insurance provider’s stock valued at $13,075,000 after buying an additional 19,365 shares during the period. Swiss National Bank boosted its position in shares of Everest Re Group by 1.4% during the third quarter. Swiss National Bank now owns 151,075 shares of the insurance provider’s stock valued at $34,504,000 after purchasing an additional 2,100 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Everest Re Group by 3.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 8,688 shares of the insurance provider’s stock valued at $1,984,000 after purchasing an additional 256 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its position in shares of Everest Re Group by 27.5% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,904 shares of the insurance provider’s stock valued at $663,000 after purchasing an additional 627 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Everest Re Group by 12.0% during the third quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock valued at $3,558,000 after purchasing an additional 1,667 shares in the last quarter. 92.55% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms recently weighed in on RE. ValuEngine upgraded Everest Re Group from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded Everest Re Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Barclays reissued a “buy” rating and issued a $290.00 target price (up from $279.00) on shares of Everest Re Group in a report on Sunday, February 18th. Wells Fargo reissued a “hold” rating and issued a $240.00 target price on shares of Everest Re Group in a report on Monday, April 2nd. Finally, TheStreet downgraded Everest Re Group from a “b” rating to a “c+” rating in a report on Monday, December 18th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $260.75.

Shares of NYSE:RE opened at $254.25 on Friday. The firm has a market cap of $10,547.69, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.15 and a beta of 0.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group Ltd has a 1 year low of $208.81 and a 1 year high of $277.17.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $13.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.04 by $7.44. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.08 earnings per share. research analysts predict that Everest Re Group Ltd will post 22.44 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, March 6th. Everest Re Group’s payout ratio is currently 57.14%.

In related news, Director Roger M. Singer sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $244.58, for a total transaction of $244,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Graf acquired 2,285 shares of Everest Re Group stock in a transaction that occurred on Monday, January 8th. The shares were purchased at an average price of $219.07 per share, with a total value of $500,574.95. Following the transaction, the director now owns 5,550 shares of the company’s stock, valued at approximately $1,215,838.50. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

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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.

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

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