Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Everest Re Group Ltd (NYSE:RE) by 24.5% in the second quarter, Holdings Channel reports. The firm owned 11,990 shares of the insurance provider’s stock after selling 3,886 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Everest Re Group were worth $2,763,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Gotham Asset Management LLC increased its position 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 worth $629,000 after purchasing an additional 1,468 shares during the last quarter. Xact Kapitalforvaltning AB increased its position 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 worth $2,709,000 after purchasing an additional 460 shares during the last quarter. Millennium Management LLC increased its position in shares of Everest Re Group by 398.7% during the 4th quarter. Millennium Management LLC now owns 133,586 shares of the insurance provider’s stock worth $29,557,000 after purchasing an additional 106,800 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Everest Re Group by 34.5% during the 4th quarter. Macquarie Group Ltd. now owns 49,544 shares of the insurance provider’s stock valued at $10,986,000 after acquiring an additional 12,704 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Everest Re Group during the 1st quarter valued at about $4,684,000. 91.26% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Wells Fargo & Co restated a “hold” rating and set a $240.00 target price on shares of Everest Re Group in a report on Thursday. Finally, Goldman Sachs Group assumed coverage on Everest Re Group in a report on Monday, June 18th. They set a “buy” rating and a $280.00 target price for the company. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Everest Re Group has a consensus rating of “Hold” and an average price target of $258.13.
Shares of Everest Re Group stock opened at $224.82 on Friday. Everest Re Group Ltd has a 12 month low of $208.81 and a 12 month high of $277.17. The stock has a market cap of $9.60 billion, a P/E ratio of 24.71, a PEG ratio of 1.04 and a beta of 0.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33.
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 analysts’ consensus estimates of $5.40 by ($0.06). Everest Re Group had a net margin of 5.64% and a return on equity of 4.04%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business earned $6.48 earnings per share. equities analysts expect that Everest Re Group Ltd will post 22.61 EPS for the current fiscal year.
About Everest Re Group
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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