Stephens Inc. AR trimmed its stake in shares of Everest Re Group Ltd (NYSE:RE) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,908 shares of the insurance provider’s stock after selling 265 shares during the period. Stephens Inc. AR owned approximately 0.06% of Everest Re Group worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $51,000. Asset Dedication LLC purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $62,000. Private Ocean LLC purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $69,000. Quadrant Capital Group LLC grew its position in Everest Re Group by 215.2% during the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock valued at $64,000 after buying an additional 213 shares during the period. Finally, ETF Managers Group LLC grew its position in Everest Re Group by 9.3% during the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock valued at $122,000 after buying an additional 48 shares during the period. 90.59% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Meryl D. Hartzband purchased 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the completion of the transaction, the director now directly owns 9,570 shares in the company, valued at approximately $2,318,906.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John P. Doucette sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the completion of the transaction, the chief executive officer now owns 22,747 shares of the company’s stock, valued at $5,731,561.59. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Shares of RE traded up $0.34 during mid-day trading on Thursday, reaching $246.90. The stock had a trading volume of 3,953 shares, compared to its average volume of 278,485. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 1.00 and a beta of 0.25. Everest Re Group Ltd has a 12 month low of $201.09 and a 12 month high of $260.51. The business’s fifty day moving average price is $251.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.37.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.66 by $1.19. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Everest Re Group Ltd will post 24.94 earnings per share for the current fiscal year.
Several analysts recently issued reports on RE shares. Morgan Stanley cut their target price on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Barclays set a $300.00 target price on shares of Everest Re Group and gave the company a “buy” rating in a research report on Monday. UBS Group boosted their target price on shares of Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, ValuEngine lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $254.71.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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 United States.
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