AMP Capital Investors Ltd lessened its holdings in Everest Re Group Ltd (NYSE:RE) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,579 shares of the insurance provider’s stock after selling 13,583 shares during the period. AMP Capital Investors Ltd owned 0.15% of Everest Re Group worth $13,627,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Focused Wealth Management Inc acquired a new position in Everest Re Group during the 4th quarter worth $111,000. Valeo Financial Advisors LLC acquired a new position in Everest Re Group during the 3rd quarter worth $137,000. Cerebellum GP LLC acquired a new position in Everest Re Group during the 4th quarter worth $133,000. Tower Research Capital LLC TRC acquired a new position in Everest Re Group during the 4th quarter worth $144,000. Finally, Fuller & Thaler Asset Management Inc. lifted its position 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 acquiring an additional 350 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on RE. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $302.00 target price for the company in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $258.00 target price (up previously from $247.00) on shares of Everest Re Group in a research report on Thursday, March 1st. Barclays reissued a “buy” rating and set a $290.00 target price (up previously from $279.00) on shares of Everest Re Group in a research report on Sunday, February 18th. TheStreet raised shares of Everest Re Group from a “c+” rating to a “b-” rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods raised shares of Everest Re Group from an “underperform” rating to a “market perform” rating in a research report on Monday, November 27th. Seven research 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. The company has an average rating of “Hold” and a consensus target price of $260.13.
Everest Re Group Ltd (NYSE:RE) opened at $261.39 on Tuesday. The company has a market cap of $10,725.34, a PE ratio of 23.46, a PEG ratio of 1.21 and a beta of 0.52. 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 52-week low of $208.81 and a 52-week high of $277.17.
Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $13.48 EPS for the quarter, beating the Zacks’ consensus estimate of $6.04 by $7.44. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.52 billion. Everest Re Group had a net margin of 7.10% and a return on equity of 4.51%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.08 earnings per share. sell-side analysts forecast that Everest Re Group Ltd will post 21.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, March 6th. Everest Re Group’s dividend payout ratio is currently 46.68%.
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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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