Axa Has $11.52 Million Holdings in Everest Re Group, Ltd. (RE)

Axa trimmed its stake in Everest Re Group, Ltd. (NYSE:RE) by 43.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,264 shares of the insurance provider’s stock after selling 34,936 shares during the period. Axa owned about 0.11% of Everest Re Group worth $11,524,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Everest Re Group by 4,778.3% in the first quarter. BlackRock Inc. now owns 3,909,246 shares of the insurance provider’s stock worth $914,021,000 after purchasing an additional 3,829,110 shares in the last quarter. Vanguard Group Inc. boosted its stake in Everest Re Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,052,626 shares of the insurance provider’s stock worth $713,734,000 after purchasing an additional 93,473 shares in the last quarter. State Street Corp boosted its stake in Everest Re Group by 2.3% in the first quarter. State Street Corp now owns 1,706,720 shares of the insurance provider’s stock worth $399,045,000 after purchasing an additional 38,072 shares in the last quarter. AQR Capital Management LLC boosted its stake in Everest Re Group by 28.9% in the first quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after purchasing an additional 289,351 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Everest Re Group by 10.1% in the first quarter. Principal Financial Group Inc. now owns 666,002 shares of the insurance provider’s stock worth $155,718,000 after purchasing an additional 60,973 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

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A number of equities analysts have commented on RE shares. ValuEngine lowered Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods lowered Everest Re Group from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective on the stock in a research note on Friday, July 7th. Morgan Stanley reissued an “equal weight” rating and issued a $259.00 price objective (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Everest Re Group has an average rating of “Hold” and an average target price of $250.78.

Everest Re Group, Ltd. (NYSE RE) opened at 231.96 on Tuesday. Everest Re Group, Ltd. has a 52 week low of $183.04 and a 52 week high of $277.17. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 7.96 and a beta of 0.64. The stock’s 50 day moving average price is $257.71 and its 200 day moving average price is $249.04.

Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $3.17 EPS. On average, equities research analysts predict 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. Investors of record on Wednesday, September 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $5.00 dividend on an annualized basis and a yield of 2.16%. Everest Re Group’s dividend payout ratio is currently 17.15%.

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.

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

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