Everest Re Group Ltd (RE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Everest Re Group Ltd (NYSE:RE) by 11.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 37,629 shares of the insurance provider’s stock after selling 5,058 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Everest Re Group were worth $9,663,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Deutsche Bank AG raised its holdings in shares of Everest Re Group by 22.5% during the 4th quarter. Deutsche Bank AG now owns 123,357 shares of the insurance provider’s stock valued at $27,291,000 after purchasing an additional 22,630 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Everest Re Group by 106.6% during the 4th quarter. Gotham Asset Management LLC now owns 2,845 shares of the insurance provider’s stock valued at $629,000 after purchasing an additional 1,468 shares in the last quarter. New Vernon Investment Management LLC bought a new position in shares of Everest Re Group during the 4th quarter valued at $3,465,000. Xact Kapitalforvaltning AB raised its holdings in shares of Everest Re Group by 3.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 12,244 shares of the insurance provider’s stock valued at $2,709,000 after purchasing an additional 460 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Everest Re Group by 494.0% during the 4th quarter. Alliancebernstein L.P. now owns 478,879 shares of the insurance provider’s stock valued at $105,957,000 after purchasing an additional 398,257 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

RE has been the topic of a number of recent research reports. ValuEngine upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $257.00 price target on the stock in a report on Wednesday. Goldman Sachs Group initiated coverage on shares of Everest Re Group in a report on Monday, June 18th. They set a “buy” rating and a $280.00 price target on the stock. Finally, Wells Fargo & Co set a $240.00 price target on shares of Everest Re Group and gave the company a “hold” rating in a report on Monday, May 21st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $257.38.

Everest Re Group stock opened at $230.48 on Friday. The firm has a market cap of $9.37 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.13 and a beta of 0.47. Everest Re Group Ltd has a 1-year low of $208.81 and a 1-year high of $277.17. 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 (NYSE:RE) last announced its earnings results on Wednesday, April 25th. The insurance provider reported $5.34 EPS for the quarter, missing the consensus estimate of $5.40 by ($0.06). The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Everest Re Group had a return on equity of 4.04% and a net margin of 5.64%. During the same quarter last year, the business earned $6.48 EPS. research analysts expect that Everest Re Group Ltd will post 20.31 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 13th. Investors of record on Wednesday, May 30th were issued a $1.30 dividend. The ex-dividend date was Tuesday, May 29th. This represents a $5.20 annualized dividend and a yield of 2.26%. Everest Re Group’s dividend payout ratio (DPR) is presently 57.14%.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.

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

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