United Services Automobile Association Reduces Position in Everest Re Group, Ltd. (RE)

United Services Automobile Association decreased its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 7,341 shares of the insurance provider’s stock after selling 414 shares during the period. United Services Automobile Association’s holdings in Everest Re Group were worth $1,716,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Everest Re Group during the fourth quarter worth approximately $131,042,000. Employees Retirement System of Texas acquired a new position in shares of Everest Re Group during the fourth quarter worth approximately $2,380,000. Bank of New York Mellon Corp increased its position in shares of Everest Re Group by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 624,960 shares of the insurance provider’s stock worth $146,121,000 after buying an additional 19,055 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Everest Re Group by 1.2% in the first quarter. State Treasurer State of Michigan now owns 16,620 shares of the insurance provider’s stock worth $3,886,000 after buying an additional 200 shares in the last quarter. Finally, HPM Partners LLC acquired a new position in shares of Everest Re Group during the first quarter worth approximately $2,242,000. Institutional investors own 92.47% of the company’s stock.

Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

Everest Re Group, Ltd. (NYSE:RE) opened at 253.98 on Monday. Everest Re Group, Ltd. has a 12-month low of $169.19 and a 12-month high of $259.94. The company has a market cap of $10.43 billion, a P/E ratio of 9.48 and a beta of 0.61. The firm has a 50-day moving average price of $249.55 and a 200-day moving average price of $233.53.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, April 24th. The insurance provider reported $6.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.35 by $0.94. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Everest Re Group had a return on equity of 12.70% and a net margin of 18.49%. During the same period in the previous year, the company posted $5.19 EPS. On average, equities research analysts forecast that Everest Re Group, Ltd. will post $20.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Wednesday, May 31st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, May 26th. Everest Re Group’s dividend payout ratio (DPR) is presently 18.60%.

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RE has been the subject of a number of recent analyst reports. Deutsche Bank AG restated a “buy” rating and set a $262.00 target price (up previously from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a report on Monday, April 24th. Barclays PLC upped their target price on Everest Re Group from $269.00 to $299.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Finally, ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Hold” and a consensus price target of $234.83.

In other Everest Re Group news, VP John P. Doucette sold 1,000 shares of Everest Re Group stock in a transaction 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 sale, the vice president now directly owns 21,834 shares of the company’s stock, valued at approximately $5,590,159.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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