QS Investors LLC trimmed its position in shares of Everest Re Group Ltd (NYSE:RE) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,142 shares of the insurance provider’s stock after selling 1,428 shares during the period. QS Investors LLC owned about 0.07% of Everest Re Group worth $6,448,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its position in Everest Re Group by 169.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 27,010 shares of the insurance provider’s stock worth $6,169,000 after acquiring an additional 17,000 shares during the last quarter. State of Wisconsin Investment Board grew its position in Everest Re Group by 51.1% during the 3rd quarter. State of Wisconsin Investment Board now owns 57,250 shares of the insurance provider’s stock worth $13,075,000 after acquiring an additional 19,365 shares during the last quarter. Swiss National Bank grew its position in 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 acquiring an additional 2,100 shares during the last quarter. Candriam Luxembourg S.C.A. grew 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 worth $1,984,000 after acquiring an additional 256 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC grew its position in Everest Re Group by 27.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,904 shares of the insurance provider’s stock worth $663,000 after acquiring an additional 627 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on RE shares. 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 objective on the stock in a research report on Friday, January 5th. Wells Fargo & Co reiterated a “market perform” rating and issued a $235.00 price objective (down from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Finally, Barclays reiterated a “buy” rating and issued a $290.00 price objective (up from $279.00) on shares of Everest Re Group in a research report on Sunday, February 18th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Everest Re Group currently has an average rating of “Hold” and an average price target of $260.13.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $13.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.04 by $7.44. The firm had revenue of $1.87 billion for 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 business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $9.08 EPS. equities research analysts anticipate that Everest Re Group Ltd will post 21.72 earnings per share for the current year.
The company also recently announced 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 payout ratio is presently 46.68%.
In other news, Director Roger M. Singer sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $244.58, for a total value of $244,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John P. Doucette sold 300 shares of the firm’s stock in a transaction that occurred on 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 owns 21,434 shares of the company’s stock, valued at approximately $5,205,032.56. The disclosure for this sale can be found here. Company 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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