HBK Investments L P boosted its stake in shares of Everest Re Group Ltd (NYSE:RE) by 275.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,380 shares of the insurance provider’s stock after purchasing an additional 47,980 shares during the quarter. HBK Investments L P owned approximately 0.16% of Everest Re Group worth $14,466,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Norinchukin Bank The boosted its position in Everest Re Group by 12.7% during the 4th quarter. Norinchukin Bank The now owns 2,059 shares of the insurance provider’s stock valued at $456,000 after purchasing an additional 232 shares during the period. Candriam Luxembourg S.C.A. boosted its position in Everest Re Group by 3.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 8,688 shares of the insurance provider’s stock valued at $1,984,000 after purchasing an additional 256 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Everest Re Group by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 7,877 shares of the insurance provider’s stock valued at $1,743,000 after purchasing an additional 259 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Everest Re Group by 9.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,340 shares of the insurance provider’s stock valued at $763,000 after purchasing an additional 289 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in Everest Re Group by 28.2% during the 4th quarter. IFM Investors Pty Ltd now owns 1,362 shares of the insurance provider’s stock valued at $301,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 92.55% of the company’s stock.
RE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded Everest Re Group from an “underperform” rating to a “market perform” rating in a research report on Monday, November 27th. TheStreet lowered Everest Re Group from a “b” rating to a “c+” rating in a research report on Monday, December 18th. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 price target for the company in a research report on Friday, January 5th. Wells Fargo & Co reiterated a “market perform” rating and set a $235.00 price target (down previously from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Finally, Barclays reiterated a “buy” rating and set a $290.00 price target (up previously from $279.00) on shares of Everest Re Group in a research report on Sunday, February 18th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Everest Re Group has a consensus rating of “Hold” and an average price target of $260.13.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $13.48 EPS for the quarter, topping the Zacks’ consensus estimate of $6.04 by $7.44. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $9.08 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. research analysts forecast that Everest Re Group Ltd will post 21.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, March 6th. Everest Re Group’s dividend payout ratio is presently 46.68%.
In related news, Director John A. Graf bought 2,285 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were bought at an average cost of $219.07 per share, with a total value of $500,574.95. Following the completion of the transaction, the director now directly owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger M. Singer sold 1,000 shares of the business’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 disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
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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