Martingale Asset Management L P Sells 2,962 Shares of Everest Re Group Ltd (RE)

Martingale Asset Management L P cut its stake in Everest Re Group Ltd (NYSE:RE) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 153,644 shares of the insurance provider’s stock after selling 2,962 shares during the period. Martingale Asset Management L P’s holdings in Everest Re Group were worth $33,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of Everest Re Group by 12.0% in the 3rd quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock worth $3,558,000 after acquiring an additional 1,667 shares during the last quarter. AXA increased its stake in shares of Everest Re Group by 165.0% in the 3rd quarter. AXA now owns 119,964 shares of the insurance provider’s stock worth $27,399,000 after acquiring an additional 74,700 shares during the last quarter. Magnetar Financial LLC increased its position in shares of Everest Re Group by 15.7% during the 3rd quarter. Magnetar Financial LLC now owns 10,539 shares of the insurance provider’s stock worth $2,407,000 after purchasing an additional 1,430 shares during the last quarter. Swiss National Bank increased its position in shares of Everest Re Group by 1.4% during the 3rd quarter. Swiss National Bank now owns 151,075 shares of the insurance provider’s stock worth $34,504,000 after purchasing an additional 2,100 shares during the last quarter. Finally, AMP Capital Investors Ltd increased its position in shares of Everest Re Group by 3.6% during the 3rd quarter. AMP Capital Investors Ltd now owns 75,162 shares of the insurance provider’s stock worth $17,165,000 after purchasing an additional 2,638 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Barclays reissued a “buy” rating and set a $290.00 price objective (up from $279.00) on shares of Everest Re Group in a research report on Sunday, February 18th. Zacks Investment Research downgraded Everest Re Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. TheStreet raised Everest Re Group from a “c+” rating to a “b-” rating in a research report on Monday, January 22nd. UBS Group 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. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and set a $216.00 price objective on shares of Everest Re Group in a research report on Friday, November 3rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average price target of $254.13.

Shares of Everest Re Group Ltd (NYSE RE) opened at $239.40 on Friday. The stock has a market capitalization of $9,798.19, a PE ratio of 27.11, a P/E/G ratio of 1.12 and a beta of 0.59. The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group Ltd has a 52-week low of $208.81 and a 52-week high of $277.17.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, February 5th. The insurance provider reported $13.48 earnings per share for the quarter, beating the consensus estimate of $6.04 by $7.44. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. Everest Re Group’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $9.08 EPS. analysts predict that Everest Re Group Ltd will post 21.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.17%. Everest Re Group’s dividend payout ratio is currently 46.68%.

In other news, Director John A. Graf bought 2,285 shares of the company’s stock in a transaction on Monday, January 8th. The stock was bought at an average cost of $219.07 per share, with a total value of $500,574.95. Following the transaction, the director now directly owns 5,550 shares in the company, valued at approximately $1,215,838.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP John P. Doucette sold 300 shares of Everest Re Group stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $242.84, for a total value of $72,852.00. Following the completion of the transaction, the vice president now directly owns 21,434 shares of the company’s stock, valued at $5,205,032.56. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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

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