BlackRock Advisors LLC Has $12,266,000 Stake in Everest Re Group Ltd. (RE)
BlackRock Advisors LLC raised its position in Everest Re Group Ltd. (NYSE:RE) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,149 shares of the company’s stock after buying an additional 4,424 shares during the period. BlackRock Advisors LLC owned approximately 0.16% of Everest Re Group worth $12,266,000 as of its most recent filing with the SEC.
Other large investors have also 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. 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. acquired a new stake in Everest Re Group during the second quarter worth $128,000. MU Investments Co. Ltd. acquired a new stake in Everest Re Group during the second quarter worth $165,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Everest Re Group during the second quarter worth $264,000. Institutional investors own 91.98% of the company’s stock.
Everest Re Group Ltd. (NYSE:RE) opened at 184.24 on Friday. The company has a market capitalization of $7.72 billion, a P/E ratio of 10.29 and a beta of 0.63. Everest Re Group Ltd. has a 52-week low of $167.07 and a 52-week high of $199.98. The stock’s 50 day moving average is $190.70 and its 200-day moving average is $186.45.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 25th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.32. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $5.03 EPS. Analysts predict that Everest Re Group Ltd. will post $17.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Friday, September 2nd. Everest Re Group’s payout ratio is 25.66%.
A number of research firms recently weighed in on RE. Zacks Investment Research lowered shares of Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Keefe, Bruyette & Woods upped their price objective on shares of Everest Re Group from $199.00 to $204.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Everest Re Group in a research report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Everest Re Group presently has a consensus rating of “Hold” and an average price target of $202.40.
In related news, VP John P. Doucette sold 1,840 shares of Everest Re Group stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $189.84, for a total transaction of $349,305.60. Following the completion of the transaction, the vice president now directly owns 23,265 shares of the company’s stock, valued at approximately $4,416,627.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. Dunne sold 200 shares of Everest Re Group stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total transaction of $38,006.00. Following the transaction, the director now directly owns 10,579 shares of the company’s stock, valued at $2,010,327.37. 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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