Andra AP fonden Invests $6.78 Million in Everest Re Group Ltd (NYSE:RE) Stock

Andra AP fonden purchased a new position in Everest Re Group Ltd (NYSE:RE) in the first quarter, HoldingsChannel.com reports. The fund purchased 31,400 shares of the insurance provider’s stock, valued at approximately $6,781,000.

A number of other large investors have also recently bought and sold shares of RE. Vanguard Group Inc lifted its holdings in shares of Everest Re Group by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 4,236,214 shares of the insurance provider’s stock valued at $967,848,000 after purchasing an additional 39,958 shares during the last quarter. Dupont Capital Management Corp raised its stake in Everest Re Group by 182.4% during the 4th quarter. Dupont Capital Management Corp now owns 901 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 582 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Everest Re Group by 33.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,150 shares of the insurance provider’s stock valued at $2,210,000 after acquiring an additional 2,518 shares during the last quarter. ETF Managers Group LLC raised its stake in Everest Re Group by 18.3% during the 4th quarter. ETF Managers Group LLC now owns 518 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 80 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Everest Re Group by 1,990.9% during the 4th quarter. Victory Capital Management Inc. now owns 42,696 shares of the insurance provider’s stock valued at $9,297,000 after acquiring an additional 40,654 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Several analysts have commented on the company. Barclays upped their price objective on Everest Re Group from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Morgan Stanley upped their price objective on Everest Re Group from $232.00 to $248.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. UBS Group upped their price objective on Everest Re Group from $236.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, ValuEngine raised Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Everest Re Group has an average rating of “Hold” and a consensus target price of $253.20.

NYSE RE opened at $250.28 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37. Everest Re Group Ltd has a 12-month low of $201.09 and a 12-month high of $254.57. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 53.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.28.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.91 by $1.00. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $5.34 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts forecast that Everest Re Group Ltd will post 24.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Tuesday, May 28th. Everest Re Group’s payout ratio is 120.43%.

In related news, Director John A. Weber sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $246.46, for a total value of $123,230.00. Following the sale, the director now owns 6,499 shares in the company, valued at approximately $1,601,743.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Zaffino sold 1,048 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total value of $259,914.48. Following the completion of the sale, the senior vice president now owns 9,617 shares in the company, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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

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