Alliancebernstein L.P. Reduces Holdings in Everest Re Group, Ltd. (NYSE:RE)


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Alliancebernstein L.P. trimmed its holdings in shares of Everest Re Group, Ltd. (NYSE:RE) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,765 shares of the insurance provider’s stock after selling 18,088 shares during the period. Alliancebernstein L.P. owned about 2.05% of Everest Re Group worth $191,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RE. AJO LP purchased a new position in shares of Everest Re Group during the 4th quarter worth approximately $26,000. Parallel Advisors LLC grew its stake in Everest Re Group by 72.2% in the 4th quarter. Parallel Advisors LLC now owns 136 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 57 shares during the period. RWM Asset Management LLC purchased a new stake in Everest Re Group in the 4th quarter worth approximately $33,000. Addison Advisors LLC purchased a new stake in shares of Everest Re Group during the 4th quarter valued at $50,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Everest Re Group during the 4th quarter valued at $63,000. 94.02% of the stock is owned by institutional investors and hedge funds.

RE has been the topic of several recent research reports. Credit Suisse Group lifted their target price on shares of Everest Re Group from $218.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, November 10th. Morgan Stanley lifted their target price on shares of Everest Re Group from $260.00 to $308.00 and gave the company an “equal weight” rating in a report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Everest Re Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $245.00 to $275.00 in a report on Tuesday, December 8th. Finally, Smith Barney Citigroup upgraded shares of Everest Re Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $245.00 to $275.00 in a report on Tuesday, December 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Everest Re Group has an average rating of “Hold” and a consensus price target of $250.55.

Shares of RE stock opened at $241.81 on Tuesday. Everest Re Group, Ltd. has a 12 month low of $157.32 and a 12 month high of $287.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $9.66 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.10 and a beta of 0.58. The company’s fifty day moving average price is $231.00 and its two-hundred day moving average price is $221.56.

Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Sunday, February 7th. The insurance provider reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.09). Everest Re Group had a return on equity of 5.19% and a net margin of 7.38%. During the same quarter last year, the business posted $3.20 earnings per share. On average, sell-side analysts anticipate that Everest Re Group, Ltd. will post 12.81 EPS for the current year.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.

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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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