First Merchants Corp increased its position in Everest Re Group, Ltd. (NYSE:RE) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,137 shares of the insurance provider’s stock after buying an additional 35 shares during the period. First Merchants Corp’s holdings in Everest Re Group were worth $2,072,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank increased 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 period. IFP Advisors Inc increased its stake 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. acquired a new stake in shares of Everest Re Group during the first quarter worth $142,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Everest Re Group during the first quarter worth $200,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Everest Re Group during the first quarter worth $204,000. Institutional investors own 92.51% of the company’s stock.
Shares of Everest Re Group, Ltd. (NYSE RE) opened at 262.39 on Tuesday. Everest Re Group, Ltd. has a one year low of $183.04 and a one year high of $277.17. The company has a market capitalization of $10.77 billion, a P/E ratio of 8.99 and a beta of 0.63. The firm has a 50-day moving average price of $260.42 and a 200-day moving average price of $242.71.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the consensus estimate of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $3.17 EPS. Equities analysts forecast that Everest Re Group, Ltd. will post $21.18 earnings per share for the current year.
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A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company reiterated a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Keefe, Bruyette & Woods downgraded Everest Re Group from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $251.00 to $245.00 in a report on Monday, July 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $259.00 target price (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $248.71.
Everest Re Group Company Profile
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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