Dimensional Fund Advisors LP increased its position in shares of Everest Re Group Ltd (NYSE:RE) by 12.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 521,086 shares of the insurance provider’s stock after acquiring an additional 56,030 shares during the period. Dimensional Fund Advisors LP owned about 1.28% of Everest Re Group worth $119,051,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY raised its holdings in Everest Re Group by 10.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,018 shares of the insurance provider’s stock valued at $1,618,000 after buying an additional 660 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Everest Re Group by 2.5% during the third quarter. State of Alaska Department of Revenue now owns 13,013 shares of the insurance provider’s stock valued at $2,971,000 after buying an additional 323 shares in the last quarter. Morgan Stanley raised its holdings in Everest Re Group by 15.6% during the second quarter. Morgan Stanley now owns 170,560 shares of the insurance provider’s stock valued at $39,309,000 after buying an additional 23,018 shares in the last quarter. Rowland & Co. Investment Counsel ADV bought a new position in Everest Re Group during the third quarter valued at about $1,511,000. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new position in Everest Re Group during the second quarter valued at about $4,229,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
Several equities analysts have weighed in on RE shares. ValuEngine upgraded Everest Re Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Morgan Stanley cut their target price on Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 14th. Wells Fargo & Co restated a “hold” rating and set a $235.00 target price on shares of Everest Re Group in a report on Thursday, October 18th. Citigroup started coverage on Everest Re Group in a research report on Wednesday, October 10th. They issued a “neutral” rating and a $237.00 price target on the stock. Finally, TheStreet downgraded Everest Re Group from a “b” rating to a “c+” rating in a research report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Everest Re Group presently has an average rating of “Hold” and an average price target of $254.11.
Shares of NYSE:RE opened at $228.87 on Friday. The stock has a market capitalization of $9.04 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.43. Everest Re Group Ltd has a 52-week low of $203.90 and a 52-week high of $264.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37.
Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.07 by $1.02. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.80 billion. Everest Re Group had a return on equity of 11.82% and a net margin of 14.19%. During the same period last year, the business posted ($16.43) earnings per share. On average, sell-side analysts predict that Everest Re Group Ltd will post 16.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 28th will be given a $1.40 dividend. This is an increase from Everest Re Group’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, November 27th. Everest Re Group’s dividend payout ratio (DPR) is currently 61.54%.
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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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