Accident Compensation Corp decreased its stake in Everest Re Group, Ltd. (NYSE:RE) by 10.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,400 shares of the insurance provider’s stock after selling 2,100 shares during the quarter. Accident Compensation Corp’s holdings in Everest Re Group were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Torray LLC boosted its position in Everest Re Group by 0.8% during the 2nd quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock worth $466,000 after acquiring an additional 15 shares during the period. Wetherby Asset Management Inc. boosted its position in Everest Re Group by 2.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 25 shares during the period. Janney Montgomery Scott LLC boosted its position in Everest Re Group by 4.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 937 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 42 shares during the period. Synovus Financial Corp boosted its position in Everest Re Group by 2.3% during the 2nd quarter. Synovus Financial Corp now owns 3,007 shares of the insurance provider’s stock worth $767,000 after acquiring an additional 67 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in Everest Re Group by 8.0% during the 2nd quarter. Coldstream Capital Management Inc. now owns 958 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.
Shares of Everest Re Group, Ltd. (NYSE RE) traded down $1.41 during trading on Wednesday, hitting $212.15. The stock had a trading volume of 529,100 shares, compared to its average volume of 408,584. The firm has a market cap of $8,770.84, a price-to-earnings ratio of 50.85, a price-to-earnings-growth ratio of 12.47 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group, Ltd. has a fifty-two week low of $208.06 and a fifty-two week high of $277.17.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, November 28th. Everest Re Group’s dividend payout ratio (DPR) is presently 81.63%.
In related news, Director William F. Galtney, Jr. acquired 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $225.29 per share, with a total value of $1,351,740.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.
RE has been the subject of a number of research reports. UBS raised their price objective on Everest Re Group from $230.00 to $245.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Wells Fargo & Company set a $240.00 price target on Everest Re Group and gave the company a “hold” rating in a report on Monday, October 30th. Keefe, Bruyette & Woods upgraded Everest Re Group from an “underperform” rating to a “market perform” rating in a report on Monday, November 27th. Finally, Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $248.56.
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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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