Ancora Advisors LLC purchased a new position in shares of Everest Re Group Ltd (NYSE:RE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 650 shares of the insurance provider’s stock, valued at approximately $149,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in Everest Re Group during the second quarter worth about $109,000. Truvestments Capital LLC bought a new position in Everest Re Group during the third quarter worth about $109,000. Acadian Asset Management LLC lifted its stake in Everest Re Group by 299.3% during the second quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 431 shares during the period. Rehmann Capital Advisory Group bought a new position in shares of Everest Re Group in the second quarter valued at approximately $207,000. Finally, Signition LP bought a new position in shares of Everest Re Group in the second quarter valued at approximately $231,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
NYSE:RE opened at $228.87 on Friday. Everest Re Group Ltd has a 1 year low of $203.90 and a 1 year high of $264.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $9.04 billion, a PE ratio of 25.15, a PEG ratio of 1.36 and a beta of 0.43.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $1.02. Everest Re Group had a net margin of 14.19% and a return on equity of 11.82%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company posted ($16.43) earnings per share. As a group, sell-side analysts anticipate that Everest Re Group Ltd will post 16.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 27th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.30. Everest Re Group’s payout ratio is 61.54%.
A number of research analysts have recently issued reports on RE shares. Morgan Stanley cut their target price on shares of Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 14th. TheStreet cut shares of Everest Re Group from a “b” rating to a “c+” rating in a research note on Thursday, September 6th. Citigroup started coverage on shares of Everest Re Group in a research note on Wednesday, October 10th. They issued a “neutral” rating and a $237.00 target price for the company. Zacks Investment Research upgraded shares of Everest Re Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $235.00 target price on shares of Everest Re Group in a research note on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Everest Re Group currently has an average rating of “Hold” and an average target price of $254.11.
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Everest Re Group 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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