Westpac Banking Corp raised its position in shares of Everest Re Group Ltd. (NYSE:RE) by 576.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,842 shares of the company’s stock after buying an additional 9,239 shares during the period. Westpac Banking Corp’s holdings in Everest Re Group were worth $1,734,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rafferty Asset Management LLC boosted its stake in Everest Re Group by 47.3% in the first quarter. Rafferty Asset Management LLC now owns 5,870 shares of the company’s stock valued at $1,159,000 after buying an additional 1,886 shares during the last quarter. State Street Corp boosted its stake in shares of Everest Re Group by 1.2% in the first quarter. State Street Corp now owns 1,695,788 shares of the company’s stock worth $334,795,000 after buying an additional 20,711 shares in the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Everest Re Group by 91.2% in the first quarter. Landscape Capital Management L.L.C. now owns 6,500 shares of the company’s stock worth $1,283,000 after buying an additional 3,100 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Everest Re Group during the first quarter worth approximately $3,346,000. Finally, Columbia Partners L L C Investment Management boosted its stake in shares of Everest Re Group by 1.4% in the first quarter. Columbia Partners L L C Investment Management now owns 5,070 shares of the company’s stock worth $1,000,000 after buying an additional 69 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.
Shares of Everest Re Group Ltd. (NYSE:RE) traded down 0.35% during trading on Thursday, reaching $192.45. 11,286 shares of the company were exchanged. Everest Re Group Ltd. has a 1-year low of $167.07 and a 1-year high of $199.98. The firm has a market capitalization of $8.06 billion, a PE ratio of 10.74 and a beta of 0.60. The company’s 50-day moving average is $190.99 and its 200 day moving average is $186.65.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 25th. The company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.32. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $5.03 EPS. Equities research analysts expect that Everest Re Group Ltd. will post $16.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, September 2nd. Everest Re Group’s dividend payout ratio (DPR) is currently 25.66%.
A number of analysts have recently commented on RE shares. Zacks Investment Research cut Everest Re Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods boosted their price target on Everest Re Group from $199.00 to $204.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Finally, Barclays PLC reissued an “overweight” rating and issued a $215.00 price target on shares of Everest Re Group in a research report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $202.40.
In related news, Director John R. Dunne sold 200 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total value of $38,006.00. Following the sale, the director now directly owns 10,579 shares of the company’s stock, valued at approximately $2,010,327.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John P. Doucette sold 1,840 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total transaction of $349,305.60. Following the completion of the sale, the vice president now directly owns 23,265 shares in the company, valued at $4,416,627.60. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Everest Re Group Company 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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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