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Raymond James Trust N.A. Has $403,000 Position in Everest Re Group, Ltd. (NYSE:RE)

Defense World · Sep 27, 2022 04:51

Raymond James Trust N.A. trimmed its stake in shares of Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437 shares of the insurance provider's stock after selling 110 shares during the quarter. Raymond James Trust N.A.'s holdings in Everest Re Group were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Everest Re Group by 54.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 833 shares of the insurance provider's stock valued at $228,000 after purchasing an additional 294 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Everest Re Group by 3.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 4,355 shares of the insurance provider's stock worth $1,193,000 after buying an additional 164 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Everest Re Group by 29.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 117,123 shares of the insurance provider's stock worth $32,082,000 after buying an additional 26,383 shares during the last quarter. State Street Corp boosted its position in Everest Re Group by 1.9% during the fourth quarter. State Street Corp now owns 1,963,593 shares of the insurance provider's stock worth $537,867,000 after purchasing an additional 35,801 shares during the period. Finally, Credit Suisse AG boosted its position in shares of Everest Re Group by 42.4% in the fourth quarter. Credit Suisse AG now owns 66,146 shares of the insurance provider's stock valued at $18,119,000 after acquiring an additional 19,711 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages have issued reports on RE. StockNews.com upgraded shares of Everest Re Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 23rd. Jefferies Financial Group lifted their price target on shares of Everest Re Group from $343.00 to $344.00 and gave the stock a "buy" rating in a research note on Tuesday, July 12th. Finally, Morgan Stanley decreased their price target on shares of Everest Re Group from $340.00 to $320.00 and set an "overweight" rating on the stock in a research note on Friday, August 19th.

Insider Buying and Selling at Everest Re Group

In other news, Director John A. Weber sold 3,000 shares of the business's 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 sale, the director now owns 3,096 shares in the company, valued at approximately $838,768.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

Everest Re Group Stock Down 3.7 %

Shares of NYSE RE opened at $245.79 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.35. The firm's fifty day moving average is $270.31 and its 200 day moving average is $278.63. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.70 and a beta of 0.52. Everest Re Group, Ltd. has a 52 week low of $245.43 and a 52 week high of $308.20.

Everest Re Group (NYSE:RE – Get Rating) last issued 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. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.01 billion. Everest Re Group had a net margin of 6.61% and a return on equity of 11.41%. The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $14.63 EPS. On average, equities research analysts expect that Everest Re Group, Ltd. will post 33.25 earnings per share for the current year.

Everest Re Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Tuesday, August 23rd. Everest Re Group's payout ratio is currently 0.20%.

Everest Re Group Profile

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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.