Terra Nova Asset Management LLC Has $265,000 Stake in Everest Re Group Ltd. (RE)
Terra Nova Asset Management LLC maintained its stake in shares of Everest Re Group Ltd. (NYSE:RE) during the second quarter, Holdings Channel reports. The fund owned 1,450 shares of the company’s stock at the end of the second quarter. Terra Nova Asset Management LLC’s holdings in Everest Re Group were worth $265,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Checchi Capital Advisers LLC increased 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 valued at $113,000 after buying an additional 21 shares during the last quarter. Boys Arnold & Co. Inc. bought a new stake in Everest Re Group during the second quarter valued at about $281,000. Seven Eight Capital LLC bought a new stake in Everest Re Group during the first quarter valued at about $375,000. BlueMountain Capital Management LLC increased its stake in Everest Re Group by 82.1% in the first quarter. BlueMountain Capital Management LLC now owns 1,930 shares of the company’s stock valued at $381,000 after buying an additional 870 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Everest Re Group during the second quarter valued at about $420,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.
Everest Re Group Ltd. (NYSE:RE) traded up 1.25% during trading on Wednesday, reaching $193.69. The company’s stock had a trading volume of 146,226 shares. Everest Re Group Ltd. has a 52 week low of $167.07 and a 52 week high of $199.98. The firm has a market cap of $8.11 billion, a P/E ratio of 10.81 and a beta of 0.60. The stock’s 50 day moving average is $190.69 and its 200-day moving average is $186.70.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 25th. The company reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.32. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.30 billion. Everest Re Group had a return on equity of 11.78% and a net margin of 13.79%. During the same quarter last year, the firm posted $5.03 earnings per share. On average, equities research analysts forecast that Everest Re Group Ltd. will post $16.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, September 2nd. Everest Re Group’s dividend payout ratio is currently 25.66%.
Several research firms have issued reports on RE. Barclays PLC restated an “overweight” rating and set a $215.00 price objective on shares of Everest Re Group in a report on Wednesday, July 27th. Keefe, Bruyette & Woods boosted their price objective on Everest Re Group from $199.00 to $204.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Everest Re Group presently has a consensus rating of “Hold” and an average price target of $201.83.
In related news, Director John R. Dunne sold 200 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total transaction of $38,006.00. Following the completion of the transaction, the director now directly owns 10,579 shares in the company, valued at $2,010,327.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John P. Doucette sold 1,840 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total value of $349,305.60. Following the transaction, the vice president now owns 23,265 shares of the company’s stock, valued at $4,416,627.60. The disclosure for this sale can be found here. 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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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