Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut 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. The institutional investor owned 7,083 shares of the insurance provider’s stock after selling 538 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Everest Re Group were worth $1,803,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after buying an additional 84 shares during the period. IFP Advisors Inc increased its position in shares of Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock worth $119,000 after buying an additional 8 shares during the period. Assetmark Inc. bought a new position in shares of Everest Re Group during the first quarter worth $142,000. Eagle Global Advisors LLC bought a new position in shares of Everest Re Group during the second quarter worth $218,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Everest Re Group during the first quarter worth $200,000. 91.63% of the stock is currently owned by institutional investors.

Shares of Everest Re Group, Ltd. (NYSE:RE) opened at 266.91 on Thursday. Everest Re Group, Ltd. has a 52 week low of $183.04 and a 52 week high of $277.17. The company has a 50-day moving average price of $264.39 and a 200-day moving average price of $246.43. The company has a market capitalization of $10.96 billion, a PE ratio of 9.16 and a beta of 0.63.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.24 by $0.27. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. During the same quarter last year, the company earned $3.17 EPS. Analysts predict that Everest Re Group, Ltd. will post $21.48 earnings per share for the current year.

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A number of equities analysts recently weighed in on the stock. UBS AG reissued a “neutral” rating and issued a $256.00 price target (up from $251.00) on shares of Everest Re Group in a report on Tuesday, August 1st. Barclays PLC boosted their price objective on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a research note on Monday, July 24th. Finally, BidaskClub cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $250.25.

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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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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