Keybank National Association OH Invests $1.53 Million in Everest Re Group Ltd (NYSE:RE)

Keybank National Association OH purchased a new position in Everest Re Group Ltd (NYSE:RE) in the second quarter, Holdings Channel.com reports. The firm purchased 6,197 shares of the insurance provider’s stock, valued at approximately $1,532,000.

Several other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Everest Re Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock worth $2,256,000 after acquiring an additional 42 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of Everest Re Group by 2.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 43 shares during the period. 6 Meridian grew its stake in shares of Everest Re Group by 2.0% in the second quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock worth $560,000 after acquiring an additional 45 shares during the period. ETF Managers Group LLC grew its stake in shares of Everest Re Group by 9.3% in the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after acquiring an additional 48 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of Everest Re Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 18,996 shares of the insurance provider’s stock worth $4,695,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 90.59% of the company’s stock.

RE opened at $249.29 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 0.99 and a beta of 0.25. The company’s 50 day moving average is $252.03 and its 200 day moving average is $236.81. Everest Re Group Ltd has a 12-month low of $201.09 and a 12-month high of $260.51.

Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.66 by $1.19. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, analysts predict that Everest Re Group Ltd will post 24.94 EPS for the current fiscal year.

In other news, Director Meryl D. Hartzband purchased 500 shares of the stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $242.31 per share, with a total value of $121,155.00. Following the completion of the acquisition, the director now directly owns 9,570 shares of the company’s stock, valued at $2,318,906.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the transaction, the chief executive officer now directly owns 22,747 shares in the company, valued at approximately $5,731,561.59. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

A number of research firms recently issued reports on RE. Morgan Stanley dropped their price objective on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. UBS Group raised their price objective on shares of Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Barclays set a $300.00 price objective on shares of Everest Re Group and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, ValuEngine downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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