Capital Fund Management S.A. bought a new position in shares of Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,500 shares of the insurance provider’s stock, valued at approximately $7,256,000. Capital Fund Management S.A. owned 0.07% of Everest Re Group at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank increased its position in Everest Re Group by 23.1% during the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 84 shares during the period. IFP Advisors Inc increased its holdings in Everest Re Group by 1.6% in the 1st quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares during the period. Assetmark Inc. bought a new stake in Everest Re Group in the 1st quarter valued at $142,000. Pacer Advisors Inc. bought a new stake in Everest Re Group in the 2nd quarter valued at $160,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Everest Re Group in the 1st quarter valued at $200,000. 92.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Everest Re Group, Ltd. (NYSE RE) traded up 5.38% during midday trading on Monday, reaching $234.45. 330,908 shares of the company’s stock traded hands. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 8.04 and a beta of 0.64. Everest Re Group, Ltd. has a 52-week low of $183.04 and a 52-week high of $277.17. The stock has a 50 day moving average of $258.06 and a 200-day moving average of $248.73.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the consensus estimate of $5.24 by $0.27. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations 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 business earned $3.17 EPS. On average, equities research analysts expect that Everest Re Group, Ltd. will post $21.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, September 1st. Everest Re Group’s payout ratio is 17.15%.
RE has been the topic of several analyst reports. ValuEngine raised shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating and issued a $259.00 price target (up previously from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price target on the stock in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $251.00 to $245.00 in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $250.25.
About Everest Re Group
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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