Tokio Marine Asset Management Co. Ltd. Continues to Hold Position in Everest Re Group Ltd. (RE)
Tokio Marine Asset Management Co. Ltd. continued to hold its position in shares of Everest Re Group Ltd. (NYSE:RE) during the second quarter, Holdings Channel reports. The institutional investor owned 1,781 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Everest Re Group were worth $325,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RE. Checchi Capital Advisers LLC boosted its stake in shares of 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 period. MU Investments Co. Ltd. bought a new stake in shares of Everest Re Group during the second quarter valued at about $165,000. Boys Arnold & Co. Inc. bought a new stake in shares of Everest Re Group during the second quarter valued at about $281,000. Seven Eight Capital LLC bought a new stake in shares of Everest Re Group during the first quarter valued at about $375,000. Finally, BlueMountain Capital Management LLC boosted its stake in shares of 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 period. 91.98% of the stock is currently owned by institutional investors.
Everest Re Group Ltd. (NYSE:RE) traded up 0.81% during mid-day trading on Thursday, hitting $193.38. The stock had a trading volume of 195,592 shares. The firm has a 50-day moving average of $190.92 and a 200-day moving average of $186.39. Everest Re Group Ltd. has a 52-week low of $167.07 and a 52-week high of $199.98. The stock has a market cap of $8.10 billion, a P/E ratio of 10.80 and a beta of 0.63.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 25th. The company reported $3.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company earned $5.03 EPS. On average, analysts forecast that Everest Re Group Ltd. will post $17.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Friday, September 2nd. Everest Re Group’s payout ratio is presently 25.66%.
RE has been the topic of several recent research reports. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a research report on Tuesday, September 27th. Barclays PLC reaffirmed an “overweight” rating and set a $215.00 target price on shares of Everest Re Group in a research report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods increased their target price on Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $202.40.
In other Everest Re Group news, Director John R. Dunne sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total value of $38,006.00. Following the sale, the director now owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John P. Doucette sold 1,840 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $189.84, for a total value of $349,305.60. Following the completion of the sale, the vice president now directly owns 23,265 shares in the company, valued at approximately $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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