Everest Re Group, Ltd. (NYSE:RE) Stake Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in Everest Re Group, Ltd. (NYSE:RE) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,088 shares of the insurance provider’s stock after buying an additional 1,174 shares during the period. Teacher Retirement System of Texas owned approximately 0.23% of Everest Re Group worth $24,463,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Everest Re Group by 4,778.3% in the first quarter. BlackRock Inc. now owns 3,909,246 shares of the insurance provider’s stock worth $914,021,000 after buying an additional 3,829,110 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Everest Re Group during the first quarter worth about $69,686,000. AQR Capital Management LLC boosted its stake in shares of Everest Re Group by 28.9% in the first quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after buying an additional 289,351 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Everest Re Group by 37.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 466,483 shares of the insurance provider’s stock worth $118,762,000 after buying an additional 126,065 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Everest Re Group by 60.7% in the second quarter. Sei Investments Co. now owns 300,323 shares of the insurance provider’s stock worth $76,459,000 after buying an additional 113,415 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Shares of Everest Re Group, Ltd. (NYSE RE) opened at 265.07 on Friday. The stock has a 50 day moving average price of $263.19 and a 200 day moving average price of $245.23. The company has a market capitalization of $10.88 billion, a PE ratio of 9.08 and a beta of 0.63. Everest Re Group, Ltd. has a 52-week low of $183.04 and a 52-week high of $277.17.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company posted $3.17 EPS. On average, analysts predict that Everest Re Group, Ltd. will post $21.48 earnings per share for the current fiscal year.

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A number of equities research analysts have issued reports on RE shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $262.00 target price (up previously from $240.00) on shares of Everest Re Group in a research report on Saturday, April 29th. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 target price for the company in a research report on Tuesday, April 18th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Everest Re Group in a research report on Monday, April 24th. Barclays PLC upped their target price on Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. Finally, ValuEngine raised Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $250.25.

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.

Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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