Mn Services Vermogensbeheer B.V. boosted its stake in Everest Re Group, Ltd. (NYSE:RE) by 507.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,610 shares of the insurance provider’s stock after buying an additional 5,522 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Everest Re Group were worth $1,683,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in shares of 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 during the last quarter. IFP Advisors Inc raised its position in shares of 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 during the last quarter. Assetmark Inc. bought a new position in shares of Everest Re Group during the first quarter worth about $142,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Everest Re Group during the first quarter worth about $200,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Everest Re Group during the first quarter worth about $204,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Shares of Everest Re Group, Ltd. (NYSE RE) opened at 270.12 on Friday. The stock has a market capitalization of $11.09 billion, a P/E ratio of 10.08 and a beta of 0.63. The stock has a 50 day moving average of $258.38 and a 200 day moving average of $240.21. Everest Re Group, Ltd. has a 12-month low of $179.02 and a 12-month high of $270.81.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, April 24th. The insurance provider reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.35 by $0.94. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Everest Re Group had a net margin of 18.49% and a return on equity of 12.70%. During the same period in the previous year, the company posted $5.19 EPS. Equities research analysts anticipate that Everest Re Group, Ltd. will post $20.92 EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note 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 on the stock in a research note 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 research note on Tuesday, April 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $259.00 price target (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $248.71.
In related news, VP John P. Doucette sold 1,000 shares of Everest Re Group stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $256.03, for a total value of $256,030.00. Following the transaction, the vice president now directly owns 21,834 shares in the company, valued at approximately $5,590,159.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.
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.
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