Sterling Capital Management LLC lowered its position in shares of Everest Re Group Ltd (NYSE:RE) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,866 shares of the insurance provider’s stock after selling 361 shares during the period. Sterling Capital Management LLC’s holdings in Everest Re Group were worth $1,813,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Everest Re Group in the 2nd quarter worth about $109,000. Robecosam AG purchased a new position in shares of Everest Re Group in the 1st quarter worth about $131,000. Acadian Asset Management LLC raised its position in shares of Everest Re Group by 299.3% in the 2nd quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 431 shares during the last quarter. Signaturefd LLC purchased a new position in shares of Everest Re Group in the 1st quarter worth about $177,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Everest Re Group in the 1st quarter worth about $213,000. 92.95% of the stock is owned by institutional investors and hedge funds.
In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $215.32, for a total value of $193,788.00. Following the completion of the transaction, the chief executive officer now owns 22,620 shares of the company’s stock, valued at approximately $4,870,538.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.
Shares of NYSE:RE opened at $223.38 on Friday. Everest Re Group Ltd has a fifty-two week low of $206.68 and a fifty-two week high of $264.88. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 63.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.44.
Everest Re Group (NYSE:RE) last issued its earnings results on Monday, July 30th. The insurance provider reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.03). Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $5.51 EPS. sell-side analysts forecast that Everest Re Group Ltd will post 17.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, September 4th. Everest Re Group’s dividend payout ratio (DPR) is 57.14%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Everest Re Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Wells Fargo & Co reaffirmed a “hold” rating and issued a $240.00 price target on shares of Everest Re Group in a research report on Thursday, July 19th. ValuEngine raised Everest Re Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. TheStreet lowered Everest Re Group from a “b” rating to a “c+” rating in a research report on Thursday, September 6th. Finally, Credit Suisse Group assumed coverage on Everest Re Group in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $239.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $255.00.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.
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