Herndon Capital Management LLC Sells 610 Shares of Everest Re Group Ltd. (RE)
Herndon Capital Management LLC decreased its position in shares of Everest Re Group Ltd. (NYSE:RE) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 18,342 shares of the company’s stock after selling 610 shares during the period. Herndon Capital Management LLC’s holdings in Everest Re Group were worth $3,351,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RE. Checchi Capital Advisers LLC raised its position 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 during the last quarter. MU Investments Co. Ltd. purchased a new position in Everest Re Group during the second quarter worth about $165,000. Quantitative Systematic Strategies LLC purchased a new position in Everest Re Group during the second quarter worth about $264,000. Boys Arnold & Co. Inc. purchased a new position in Everest Re Group during the second quarter worth about $281,000. Finally, Seven Eight Capital LLC purchased a new position in Everest Re Group during the first quarter worth about $375,000. 91.90% of the stock is owned by institutional investors and hedge funds.
Shares of Everest Re Group Ltd. (NYSE:RE) traded up 0.14% during mid-day trading on Wednesday, hitting $195.62. 222,318 shares of the stock were exchanged. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 10.92 and a beta of 0.63. Everest Re Group Ltd. has a 1-year low of $167.07 and a 1-year high of $199.98. The company’s 50-day moving average is $191.43 and its 200-day moving average is $186.26.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, July 25th. The company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.32. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $5.03 EPS. Equities research analysts anticipate that Everest Re Group Ltd. will post $17.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, September 2nd. Everest Re Group’s payout ratio is 25.66%.
A number of research analysts have issued reports on RE shares. Zacks Investment Research raised shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Finally, Barclays PLC reissued an “overweight” rating and set a $215.00 target price on shares of Everest Re Group in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $202.40.
In other Everest Re Group news, Director John R. Dunne sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total transaction of $38,006.00. Following the sale, the director now directly owns 10,579 shares in the company, valued at approximately $2,010,327.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John P. Doucette sold 1,840 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total transaction of $349,305.60. Following the sale, the vice president now owns 23,265 shares in the company, valued at $4,416,627.60. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Everest Re Group Company Profile
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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