Teachers Retirement System of The State of Kentucky trimmed its position in Everest Re Group Ltd (NYSE:RE) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,676 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Everest Re Group were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focused Wealth Management Inc bought a new position in Everest Re Group during the 4th quarter worth $111,000. Cerebellum GP LLC bought a new position in Everest Re Group during the 4th quarter worth $133,000. Valeo Financial Advisors LLC bought a new position in Everest Re Group during the 3rd quarter worth $137,000. Tower Research Capital LLC TRC bought a new position in Everest Re Group during the 4th quarter worth $144,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Everest Re Group by 87.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 750 shares of the insurance provider’s stock worth $166,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.
RE stock opened at $260.26 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group Ltd has a 12-month low of $208.81 and a 12-month high of $277.17. The stock has a market capitalization of $10,727.38, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $5.20 dividend on an annualized basis and a yield of 2.00%. Everest Re Group’s dividend payout ratio (DPR) is presently 46.68%.
A number of research analysts recently commented on RE shares. TheStreet upgraded Everest Re Group from a “c+” rating to a “b-” rating in a research note on Monday, January 22nd. Barclays restated a “buy” rating and set a $290.00 price objective (up from $279.00) on shares of Everest Re Group in a research note on Sunday, February 18th. Morgan Stanley restated an “equal weight” rating and set a $258.00 price objective (up from $247.00) on shares of Everest Re Group in a research note on Thursday, March 1st. Zacks Investment Research downgraded Everest Re Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $234.00 price objective on shares of Everest Re Group in a research note on Wednesday, December 6th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Everest Re Group has an average rating of “Hold” and an average target price of $260.13.
In other news, Director Roger M. Singer sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $244.58, for a total value of $244,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Graf acquired 2,285 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was purchased at an average price of $219.07 per share, with a total value of $500,574.95. Following the acquisition, the director now owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
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Everest Re Group 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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