Teachers Retirement System of The State of Kentucky lessened its holdings in Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,971 shares of the insurance provider's stock after selling 129 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Everest Re Group were worth $895,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Everest Re Group by 54.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 833 shares of the insurance provider's stock worth $228,000 after buying an additional 294 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Everest Re Group by 5.8% during the fourth quarter. Invesco Ltd. now owns 576,916 shares of the insurance provider's stock worth $158,028,000 after buying an additional 31,404 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Everest Re Group by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 58,097 shares of the insurance provider's stock valued at $15,914,000 after purchasing an additional 8,296 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Everest Re Group by 3.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 4,355 shares of the insurance provider's stock valued at $1,193,000 after purchasing an additional 164 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Everest Re Group by 29.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 117,123 shares of the insurance provider's stock valued at $32,082,000 after purchasing an additional 26,383 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.
Get Everest Re Group alerts:Analyst Upgrades and Downgrades
RE has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of Everest Re Group from $343.00 to $344.00 and gave the company a "buy" rating in a report on Tuesday, July 12th. StockNews.com raised shares of Everest Re Group from a "hold" rating to a "buy" rating in a report on Saturday, July 23rd. Finally, Morgan Stanley lowered their price target on shares of Everest Re Group from $340.00 to $320.00 and set an "overweight" rating for the company in a report on Friday, August 19th.
Insider Transactions at Everest Re Group
In other news, Director John A. Weber sold 3,000 shares of Everest Re Group stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $270.92, for a total transaction of $812,760.00. Following the transaction, the director now directly owns 3,096 shares of the company's stock, valued at $838,768.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company's stock.Everest Re Group Price Performance
Shares of RE stock opened at $255.12 on Friday. Everest Re Group, Ltd. has a 52-week low of $248.63 and a 52-week high of $308.20. The stock has a market cap of $10.05 billion, a PE ratio of 12.93, a PEG ratio of 0.72 and a beta of 0.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.32 and a current ratio of 0.32. The firm's 50 day moving average price is $270.63 and its two-hundred day moving average price is $278.75.
Everest Re Group (NYSE:RE – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $9.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.31 by $0.48. Everest Re Group had a net margin of 6.61% and a return on equity of 11.41%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the firm earned $14.63 earnings per share. The business's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts forecast that Everest Re Group, Ltd. will post 33.25 EPS for the current year.
Everest Re Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were given a dividend of $1.65 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.59%. Everest Re Group's dividend payout ratio is 0.20%.
About Everest Re Group
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Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.
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