KBC Group NV decreased its stake in shares of Everest Re Group, Ltd. (NYSE:RE) by 20.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,832 shares of the insurance provider’s stock after selling 6,475 shares during the period. KBC Group NV’s holdings in Everest Re Group were worth $6,154,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Everest Re Group in the 3rd quarter valued at $1,281,000. Sei Investments Co. grew its position in Everest Re Group by 1.9% in the 3rd quarter. Sei Investments Co. now owns 164,900 shares of the insurance provider’s stock valued at $32,639,000 after purchasing an additional 3,072 shares during the period. Strs Ohio grew its position in Everest Re Group by 122.6% in the 3rd quarter. Strs Ohio now owns 12,889 shares of the insurance provider’s stock valued at $2,546,000 after purchasing an additional 7,099 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Everest Re Group in the 4th quarter valued at $560,000. Finally, Louisiana State Employees Retirement System grew its position in Everest Re Group by 25.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 2,500 shares of the insurance provider’s stock valued at $585,000 after purchasing an additional 500 shares during the period. 94.02% of the stock is owned by institutional investors.
RE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Everest Re Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $245.00 to $305.00 in a research report on Sunday, March 28th. Morgan Stanley cut their price objective on shares of Everest Re Group from $316.00 to $312.00 and set an “overweight” rating on the stock in a report on Thursday, April 22nd. Citigroup lifted their price objective on shares of Everest Re Group from $275.00 to $287.00 in a report on Wednesday, March 31st. Finally, Zacks Investment Research downgraded shares of Everest Re Group from a “hold” rating to a “sell” rating and set a $262.00 price objective on the stock. in a report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Everest Re Group presently has a consensus rating of “Buy” and a consensus price target of $271.00.
Everest Re Group (NYSE:RE) last released its earnings results on Wednesday, April 28th. The insurance provider reported $6.49 EPS for the quarter, topping the Zacks’ consensus estimate of $4.61 by $1.88. Everest Re Group had a return on equity of 5.19% and a net margin of 7.38%. During the same quarter in the previous year, the business posted $4.03 EPS. Research analysts expect that Everest Re Group, Ltd. will post 12.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, March 16th. Everest Re Group’s payout ratio is 29.05%.
Everest Re Group Profile
Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following 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 business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.
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