BTIM Corp. Acquires 1,281 Shares of Everest Re Group, Ltd. (RE)

BTIM Corp. raised its position in Everest Re Group, Ltd. (NYSE:RE) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,216 shares of the insurance provider’s stock after buying an additional 1,281 shares during the period. BTIM Corp. owned about 0.08% of Everest Re Group worth $8,202,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank raised its stake in Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after buying an additional 84 shares in the last quarter. IFP Advisors Inc raised its stake in Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock worth $119,000 after buying an additional 8 shares in the last quarter. Assetmark Inc. purchased a new stake in Everest Re Group during the first quarter worth approximately $142,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Everest Re Group during the first quarter worth approximately $200,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Everest Re Group during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Everest Re Group, Ltd. (NYSE:RE) opened at 270.12 on Friday. Everest Re Group, Ltd. has a 12 month low of $179.02 and a 12 month high of $270.81. The firm’s 50-day moving average is $258.38 and its 200-day moving average is $240.21. The stock has a market capitalization of $11.09 billion, a P/E ratio of 10.08 and a beta of 0.63.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, April 24th. The insurance provider reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.35 by $0.94. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Everest Re Group had a return on equity of 12.70% and a net margin of 18.49%. During the same period last year, the company earned $5.19 earnings per share. On average, equities analysts expect that Everest Re Group, Ltd. will post $20.92 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 price target for the company in a report on Tuesday, April 18th. Barclays PLC upped their price target on shares of Everest Re Group from $269.00 to $299.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $259.00 price target (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $248.71.

In related news, VP John P. Doucette sold 1,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $256.03, for a total value of $256,030.00. Following the completion of the sale, the vice president now directly owns 21,834 shares in the company, valued at $5,590,159.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.