Oxford Asset Management increased its position in shares of Everest Re Group Ltd (NYSE:RE) by 6.5% during the first quarter, Holdings Channel reports. The institutional investor owned 16,137 shares of the insurance provider’s stock after buying an additional 991 shares during the period. Oxford Asset Management’s holdings in Everest Re Group were worth $3,773,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Everest Re Group during the fourth quarter valued at approximately $131,042,000. Karp Capital Management Corp acquired a new position in Everest Re Group during the first quarter valued at approximately $69,686,000. Russell Investments Group Ltd. acquired a new position in Everest Re Group during the fourth quarter valued at approximately $51,785,000. Numeric Investors LLC increased its position in Everest Re Group by 53.8% in the fourth quarter. Numeric Investors LLC now owns 396,916 shares of the insurance provider’s stock valued at $85,893,000 after buying an additional 138,916 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Everest Re Group by 3,155.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 132,089 shares of the insurance provider’s stock valued at $28,582,000 after buying an additional 128,031 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
Everest Re Group Ltd (NYSE:RE) traded up 0.04% on Friday, hitting $243.94. 269,673 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $240.94 and a 200-day moving average price of $226.32. Everest Re Group Ltd has a 12 month low of $169.19 and a 12 month high of $258.30. The stock has a market cap of $10.02 billion, a P/E ratio of 9.10 and a beta of 0.49.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, April 24th. The insurance provider reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.35 by $0.94. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Everest Re Group had a return on equity of 12.44% and a net margin of 17.19%. During the same period in the prior year, the company earned $5.19 EPS. Equities analysts predict that Everest Re Group Ltd will post $20.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Wednesday, May 31st will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 26th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.05%. Everest Re Group’s dividend payout ratio is currently 21.00%.
Several research analysts have commented on the stock. Deutsche Bank AG reissued a “buy” rating and set a $262.00 price target (up from $240.00) on shares of Everest Re Group in a research note on Saturday, April 29th. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Wells Fargo & Co reissued a “hold” rating on shares of Everest Re Group in a research note on Monday, April 24th. Finally, Barclays PLC lifted their price target on shares of Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average target price of $234.83.
In other news, VP John P. Doucette sold 1,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $256.03, for a total transaction of $256,030.00. Following the completion of the transaction, the vice president now directly owns 21,834 shares in the company, valued at approximately $5,590,159.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Dunne sold 500 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $234.75, for a total value of $117,375.00. Following the transaction, the director now owns 12,079 shares of the company’s stock, valued at $2,835,545.25. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate 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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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