Everest Re Group Ltd (RE) Stake Reduced by First Financial Corp IN
First Financial Corp IN decreased its stake in Everest Re Group Ltd (NYSE:RE) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 935 shares of the insurance provider’s stock after selling 5 shares during the period. First Financial Corp IN’s holdings in Everest Re Group were worth $219,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. TLP Group LLC bought a new stake in Everest Re Group during the third quarter worth $121,000. SSI Investment Management Inc. bought a new stake in Everest Re Group during the fourth quarter worth $206,000. HM Payson & Co. bought a new stake in Everest Re Group during the third quarter worth $209,000. Matarin Capital Management LLC bought a new stake in Everest Re Group during the third quarter worth $210,000. Finally, Advisor Group Inc. increased its stake in Everest Re Group by 21.6% in the third quarter. Advisor Group Inc. now owns 1,429 shares of the insurance provider’s stock worth $256,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Everest Re Group Ltd (NYSE:RE) traded down 0.28% during trading on Tuesday, hitting $233.91. 134,336 shares of the stock were exchanged. Everest Re Group Ltd has a 52 week low of $169.19 and a 52 week high of $240.51. The stock has a market cap of $9.57 billion, a P/E ratio of 9.88 and a beta of 0.49. The stock has a 50 day moving average of $234.21 and a 200-day moving average of $218.14.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, February 6th. The insurance provider reported $8.83 earnings per share for the quarter, topping the consensus estimate of $3.56 by $5.27. The business earned $1.61 billion during the quarter, compared to the consensus estimate of $1.32 billion. Everest Re Group had a net margin of 17.19% and a return on equity of 12.44%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $8.17 earnings per share. Equities analysts expect that Everest Re Group Ltd will post $19.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, March 6th. Everest Re Group’s dividend payout ratio is presently 21.00%.
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A number of analysts recently weighed in on the company. Barclays PLC restated a “buy” rating and issued a $246.00 price objective on shares of Everest Re Group in a report on Monday, January 9th. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a report on Friday, January 6th. Finally, Macquarie downgraded Everest Re Group from a “neutral” rating to an “underperform” rating and set a $186.00 price target for the company. in a report on Tuesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average target price of $218.83.
In other Everest Re Group news, Director John A. Weber sold 4,000 shares of the business’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $228.00, for a total value of $912,000.00. Following the completion of the sale, the director now directly owns 8,557 shares of the company’s stock, valued at $1,950,996. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Dunne sold 500 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $234.75, for a total transaction of $117,375.00. Following the completion of the sale, the director now directly owns 12,079 shares of the company’s stock, valued at $2,835,545.25. The disclosure for this sale can be found here. 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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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