Strategic Global Advisors LLC cut its holdings in Everest Re Group, Ltd. (NYSE:RE) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,229 shares of the insurance provider’s stock after selling 1,310 shares during the period. Everest Re Group makes up 1.0% of Strategic Global Advisors LLC’s portfolio, making the stock its 28th largest position. Strategic Global Advisors LLC’s holdings in Everest Re Group were worth $2,604,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of RE. 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. Pacer Advisors Inc. purchased a new stake in Everest Re Group in the second quarter worth about $160,000. IFP Advisors Inc grew its holdings in Everest Re Group by 29.1% in the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 148 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Everest Re Group in the first quarter worth about $200,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Everest Re Group in the first quarter worth about $204,000. 92.44% of the stock is owned by institutional investors and hedge funds.
Everest Re Group, Ltd. (RE) traded down 0.46% during trading on Friday, hitting $226.26. 342,167 shares of the company were exchanged. The stock’s 50-day moving average is $251.27 and its 200-day moving average is $248.66. Everest Re Group, Ltd. has a 12 month low of $183.04 and a 12 month high of $277.17. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 7.76 and a beta of 0.64.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $3.17 earnings per share. Equities research analysts anticipate that Everest Re Group, Ltd. will post $20.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, September 1st. Everest Re Group’s payout ratio is 17.15%.
A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reiterated a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Barclays PLC increased their price target on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and issued a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $249.00.
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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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