Flinton Capital Management LLC reduced its holdings in Everest Re Group Ltd (NYSE:RE) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,526 shares of the insurance provider’s stock after selling 9,554 shares during the quarter. Flinton Capital Management LLC owned approximately 0.11% of Everest Re Group worth $10,073,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in RE. Boston Partners acquired a new position in Everest Re Group in the fourth quarter valued at $385,136,000. Alliancebernstein L.P. increased its stake in Everest Re Group by 494.0% in the fourth quarter. Alliancebernstein L.P. now owns 478,879 shares of the insurance provider’s stock valued at $105,957,000 after purchasing an additional 398,257 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in Everest Re Group in the fourth quarter valued at $79,987,000. Janus Henderson Group PLC increased its stake in Everest Re Group by 58.2% in the third quarter. Janus Henderson Group PLC now owns 545,518 shares of the insurance provider’s stock valued at $124,591,000 after purchasing an additional 200,748 shares during the last quarter. Finally, Nuance Investments LLC acquired a new position in Everest Re Group in the fourth quarter valued at $38,238,000. Hedge funds and other institutional investors own 92.55% of the company’s stock.
In other news, VP John P. Doucette sold 300 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.84, for a total value of $72,852.00. Following the completion of the sale, the vice president now owns 21,434 shares of the company’s stock, valued at $5,205,032.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Graf bought 2,285 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,215,838.50. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $13.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.04 by $7.44. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $9.08 earnings per share. sell-side analysts anticipate that Everest Re Group Ltd will post 21.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $5.20 annualized dividend and a yield of 1.99%. Everest Re Group’s dividend payout ratio is presently 46.68%.
Several equities analysts recently commented on RE shares. Keefe, Bruyette & Woods upgraded Everest Re Group from an “underperform” rating to a “market perform” rating in a research note on Monday, November 27th. TheStreet lowered Everest Re Group from a “b” rating to a “c+” rating in a research note 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 note on Friday, January 5th. Wells Fargo & Co restated a “market perform” rating and set a $235.00 price target (down from $240.00) on shares of Everest Re Group in a research note on Tuesday, January 9th. Finally, Barclays restated a “buy” rating and set a $290.00 price target (up from $279.00) on shares of Everest Re Group in a research note 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $260.13.
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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