Wedge Capital Management L L P NC decreased its position in Everest Re Group Ltd. (NYSE:RE) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 6,284 shares of the company’s stock after selling 366 shares during the period. Wedge Capital Management L L P NC’s holdings in Everest Re Group were worth $1,148,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in RE. Checchi Capital Advisers LLC boosted its stake in shares of Everest Re Group by 3.5% in the second quarter. Checchi Capital Advisers LLC now owns 619 shares of the company’s stock worth $113,000 after buying an additional 21 shares during the period. MU Investments Co. Ltd. bought a new stake in shares of Everest Re Group during the second quarter worth approximately $165,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Everest Re Group during the second quarter worth approximately $264,000. Boys Arnold & Co. Inc. bought a new stake in shares of Everest Re Group during the second quarter worth approximately $281,000. Finally, Seven Eight Capital LLC bought a new stake in shares of Everest Re Group during the first quarter worth approximately $375,000. 91.90% of the stock is owned by institutional investors and hedge funds.
Everest Re Group Ltd. (NYSE:RE) traded up 0.100% on Tuesday, hitting $195.755. The stock had a trading volume of 93,402 shares. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.929 and a beta of 0.63. The company has a 50-day moving average price of $191.31 and a 200-day moving average price of $186.28. Everest Re Group Ltd. has a 52 week low of $167.07 and a 52 week high of $199.98.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 25th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.32. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.30 billion. Everest Re Group had a return on equity of 11.78% and a net margin of 13.79%. During the same period last year, the company earned $5.03 EPS. Equities research analysts anticipate that Everest Re Group Ltd. will post $17.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Friday, September 2nd. Everest Re Group’s dividend payout ratio (DPR) is presently 25.66%.
A number of research firms have issued reports on RE. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. Barclays PLC reissued an “overweight” rating and issued a $215.00 target price on shares of Everest Re Group in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $202.40.
In other news, VP John P. Doucette sold 1,840 shares of Everest Re Group stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total value of $349,305.60. Following the completion of the transaction, the vice president now directly owns 23,265 shares of the company’s stock, valued at approximately $4,416,627.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Dunne sold 200 shares of Everest Re Group stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total value of $38,006.00. Following the completion of the transaction, the director now directly owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
About Everest Re Group
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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