ETRADE Capital Management LLC lowered its stake in Everest Re Group Ltd (NYSE:RE) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,119 shares of the insurance provider’s stock after selling 263 shares during the period. ETRADE Capital Management LLC’s holdings in Everest Re Group were worth $679,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in RE. Ffcm LLC increased its position in shares of Everest Re Group by 166.8% in the 4th quarter. Ffcm LLC now owns 651 shares of the insurance provider’s stock valued at $142,000 after buying an additional 407 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Everest Re Group by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 494,334 shares of the insurance provider’s stock worth $107,646,000 after purchasing an additional 60,436 shares in the last quarter. BlackRock Inc. increased its holdings in Everest Re Group by 4.6% during the 4th quarter. BlackRock Inc. now owns 3,382,386 shares of the insurance provider’s stock worth $736,548,000 after purchasing an additional 149,017 shares in the last quarter. California Public Employees Retirement System increased its holdings in Everest Re Group by 17.5% during the 4th quarter. California Public Employees Retirement System now owns 257,605 shares of the insurance provider’s stock worth $56,096,000 after purchasing an additional 38,428 shares in the last quarter. Finally, Norinchukin Bank The increased its holdings in Everest Re Group by 10.3% during the 4th quarter. Norinchukin Bank The now owns 3,190 shares of the insurance provider’s stock worth $695,000 after purchasing an additional 299 shares in the last quarter. 92.72% of the stock is owned by institutional investors.
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Several equities analysts have recently weighed in on RE shares. Deutsche Bank decreased their price objective on Everest Re Group from $250.00 to $247.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Morgan Stanley decreased their price objective on Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, January 3rd. Zacks Investment Research upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $235.00 target price on shares of Everest Re Group in a research note on Thursday, January 24th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $247.63.
Shares of RE stock opened at $225.39 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.31 and a quick ratio of 0.37. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 48.47, a P/E/G ratio of 0.97 and a beta of 0.33. Everest Re Group Ltd has a 12-month low of $201.09 and a 12-month high of $264.88.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, February 11th. The insurance provider reported ($5.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.04 by ($11.93). Everest Re Group had a return on equity of 2.33% and a net margin of 1.40%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. On average, sell-side analysts anticipate that Everest Re Group Ltd will post 23.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 2.48%. Everest Re Group’s dividend payout ratio (DPR) is 120.43%.
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Everest Re Group 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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