Nissay Asset Management Corp Japan ADV grew its stake in Everest Re Group Ltd (NYSE:RE) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,182 shares of the insurance provider’s stock after acquiring an additional 404 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Everest Re Group were worth $862,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Everest Re Group by 4.9% during the first quarter. AQR Capital Management LLC now owns 2,101,769 shares of the insurance provider’s stock valued at $404,422,000 after purchasing an additional 98,239 shares in the last quarter. Capital International Investors raised its position in shares of Everest Re Group by 50.3% during the first quarter. Capital International Investors now owns 1,291,301 shares of the insurance provider’s stock worth $248,472,000 after acquiring an additional 432,049 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Everest Re Group by 47.2% during the first quarter. Victory Capital Management Inc. now owns 1,062,692 shares of the insurance provider’s stock worth $204,484,000 after acquiring an additional 340,598 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Everest Re Group by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,046,625 shares of the insurance provider’s stock worth $201,392,000 after acquiring an additional 45,035 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Everest Re Group by 6.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 676,585 shares of the insurance provider’s stock worth $130,189,000 after acquiring an additional 38,995 shares during the last quarter. Institutional investors own 74.47% of the company’s stock.
Everest Re Group stock opened at $218.79 on Friday. Everest Re Group Ltd has a 1-year low of $157.32 and a 1-year high of $294.31. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.48 and a beta of 0.46. The firm’s fifty day moving average price is $212.21 and its two-hundred day moving average price is $221.85. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Wednesday, May 6th. The insurance provider reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.26. Everest Re Group had a net margin of 8.25% and a return on equity of 8.48%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the firm earned $6.91 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts forecast that Everest Re Group Ltd will post 14.31 EPS for the current year.
In other Everest Re Group news, Chairman Joseph V. Taranto sold 12,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $172.99, for a total value of $2,075,880.00. Following the transaction, the chairman now directly owns 289,851 shares of the company’s stock, valued at $50,141,324.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on RE. Zacks Investment Research downgraded Everest Re Group from a “hold” rating to a “sell” rating and set a $183.00 price objective for the company. in a research report on Monday, May 11th. Deutsche Bank lowered their price objective on shares of Everest Re Group from $270.00 to $250.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Bank of America started coverage on shares of Everest Re Group in a research note on Monday, July 6th. They set a “buy” rating and a $258.00 target price on the stock. Wells Fargo & Co upgraded shares of Everest Re Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $203.00 to $255.00 in a report on Tuesday, June 16th. Finally, Credit Suisse Group reduced their price target on shares of Everest Re Group from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $245.73.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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