Jane Street Group LLC purchased a new stake in Everest Re Group, Ltd. (NYSE:RE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,148 shares of the insurance provider’s stock, valued at approximately $491,000.
Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in Everest Re Group by 12.0% in the third quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock valued at $3,558,000 after acquiring an additional 1,667 shares during the last quarter. Capital Fund Management S.A. bought a new position in Everest Re Group in the second quarter valued at about $7,256,000. Stifel Financial Corp lifted its stake in Everest Re Group by 32.1% in the second quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock valued at $2,740,000 after buying an additional 2,611 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Everest Re Group in the second quarter valued at about $1,451,000. Finally, Swiss National Bank lifted its stake in Everest Re Group by 2.9% in the second quarter. Swiss National Bank now owns 148,975 shares of the insurance provider’s stock valued at $37,928,000 after buying an additional 4,200 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.
Several equities analysts have weighed in on RE shares. UBS cut their target price on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 19th. ValuEngine lowered Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $230.00 target price on shares of Everest Re Group in a research note on Friday, October 13th. Buckingham Research started coverage on Everest Re Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $255.00 target price on the stock. Finally, Barclays cut their target price on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $250.56.
Shares of Everest Re Group, Ltd. (NYSE:RE) opened at $222.11 on Friday. The company has a market capitalization of $9,122.06, a PE ratio of 52.88, a PEG ratio of 12.97 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group, Ltd. has a 1 year low of $208.81 and a 1 year high of $277.17.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing the Zacks’ consensus estimate of $3.68 by ($20.11). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 EPS. research analysts forecast that Everest Re Group, Ltd. will post 1.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s dividend payout ratio (DPR) is currently 81.63%.
In other Everest Re Group news, Director William F. Galtney, Jr. purchased 6,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $225.29 per share, with a total value of $1,351,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.
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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