Insider Selling: Everest Re Group Ltd. (RE) Director Sells $38,006.00 in Stock
Everest Re Group Ltd. (NYSE:RE) Director John R. Dunne sold 200 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total value of $38,006.00. Following the transaction, the director now owns 10,579 shares in the company, valued at $2,010,327.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Everest Re Group Ltd. (NYSE:RE) opened at 190.43 on Tuesday. The stock has a market capitalization of $7.98 billion, a PE ratio of 10.63 and a beta of 0.60. The company’s 50-day moving average is $190.54 and its 200 day moving average is $186.66. Everest Re Group Ltd. has a 12-month low of $167.07 and a 12-month high of $199.98.
Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, July 25th. The company reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.32. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. During the same quarter in the prior year, the company posted $5.03 EPS. On average, equities research analysts expect that Everest Re Group Ltd. will post $16.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $4.60 annualized dividend and a dividend yield of 2.42%. Everest Re Group’s dividend payout ratio is 25.66%.
RE has been the topic of a number of recent research reports. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Keefe, Bruyette & Woods lifted their price objective on Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Everest Re Group in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $201.83.
Several large investors have recently bought and sold shares of the company. Global X Management Co. LLC raised its stake in Everest Re Group by 177.7% in the second quarter. Global X Management Co. LLC now owns 561 shares of the company’s stock worth $102,000 after buying an additional 359 shares in the last quarter. Pacer Advisors Inc. raised its stake in Everest Re Group by 5.6% in the second quarter. Pacer Advisors Inc. now owns 568 shares of the company’s stock worth $104,000 after buying an additional 30 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Everest Re Group by 3.5% in the second quarter. Checchi Capital Advisers LLC now owns 619 shares of the company’s stock worth $113,000 after buying an additional 21 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Everest Re Group during the second quarter worth $128,000. Finally, MU Investments Co. Ltd. purchased a new stake in Everest Re Group during the second quarter worth $165,000. 92.11% of the stock is owned by hedge funds and other institutional investors.
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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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