Strs Ohio grew its stake in Everest Re Group Ltd (NYSE:RE) by 20.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,790 shares of the insurance provider’s stock after purchasing an additional 996 shares during the quarter. Strs Ohio’s holdings in Everest Re Group were worth $1,193,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of RE. CWM Advisors LLC bought a new stake in Everest Re Group during the first quarter worth $33,000. Fifth Third Bancorp lifted its holdings in Everest Re Group by 48.1% during the first quarter. Fifth Third Bancorp now owns 234 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 76 shares during the period. CFM Wealth Partners LLC bought a new stake in Everest Re Group during the first quarter worth $57,000. AIA Investment Management Private Ltd bought a new stake in Everest Re Group during the first quarter worth $70,000. Finally, Cerebellum GP LLC bought a new stake in Everest Re Group during the second quarter worth $133,000. Institutional investors own 74.47% of the company’s stock.
In other news, Chairman Joseph V. Taranto sold 12,000 shares of Everest Re Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $172.99, for a total value of $2,075,880.00. Following the completion of the transaction, the chairman now directly owns 289,851 shares in the company, valued at $50,141,324.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.
Shares of NYSE RE opened at $218.79 on Friday. The stock has a market cap of $10.87 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.48 and a beta of 0.46. Everest Re Group Ltd has a fifty-two week low of $157.32 and a fifty-two week high of $294.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a fifty day moving average of $212.21 and a 200-day moving average of $221.85.
Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $4.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.77 by $0.26. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Everest Re Group had a return on equity of 8.48% and a net margin of 8.25%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $6.91 earnings per share. On average, sell-side analysts predict that Everest Re Group Ltd will post 14.31 EPS for the current year.
A number of analysts recently commented on RE shares. Citigroup dropped their price target on Everest Re Group from $302.00 to $219.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating and set a $183.00 price target on the stock. in a report on Monday, May 11th. ValuEngine upgraded Everest Re Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 21st. BofA Securities began coverage on Everest Re Group in a research note on Monday, July 6th. They issued a “buy” rating and a $258.00 target price on the stock. Finally, Deutsche Bank lowered their target price on Everest Re Group from $270.00 to $250.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Everest Re Group has an average rating of “Hold” and a consensus 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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