Everest Re Group Ltd. (RE) to Issue Quarterly Dividend of $1.25 on December 14th
Everest Re Group Ltd. (NYSE:RE) declared a quarterly dividend on Wednesday, November 16th. Investors of record on Wednesday, November 30th will be given a dividend of 1.25 per share on Wednesday, December 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, November 28th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.15.
Everest Re Group (NYSE:RE) opened at 208.50 on Wednesday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 9.06 and a beta of 0.48. The firm’s 50-day moving average is $200.92 and its 200 day moving average is $188.67. Everest Re Group has a 12 month low of $167.07 and a 12 month high of $214.86.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, October 24th. The company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $3.29. Everest Re Group had a net margin of 17.07% and a return on equity of 12.50%. The company earned $1.51 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $4.53 earnings per share. Everest Re Group’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Everest Re Group will post $18.04 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Everest Re Group from $199.00 to $204.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Barclays PLC reissued an “overweight” rating and set a $215.00 target price on shares of Everest Re Group in a research report on Wednesday, July 27th. Goldman Sachs Group Inc. raised shares of Everest Re Group from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $166.00 to $195.00 in a research report on Tuesday, November 15th. Finally, Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a research report on Friday, November 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Everest Re Group currently has an average rating of “Buy” and a consensus price target of $215.20.
In related news, Director John R. Dunne sold 200 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total value of $38,006.00. Following the sale, the director now directly owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. APG Asset Management N.V. boosted its stake in shares of Everest Re Group by 9.1% in the second quarter. APG Asset Management N.V. now owns 545,262 shares of the company’s stock worth $99,603,000 after buying an additional 45,600 shares during the period. TFS Capital LLC acquired a new stake in shares of Everest Re Group during the second quarter worth $355,000. Pacad Investment Ltd. boosted its stake in shares of Everest Re Group by 133.3% in the second quarter. Pacad Investment Ltd. now owns 8,400 shares of the company’s stock worth $1,534,000 after buying an additional 4,800 shares during the period. Credit Suisse AG boosted its stake in shares of Everest Re Group by 11.7% in the second quarter. Credit Suisse AG now owns 131,119 shares of the company’s stock worth $23,952,000 after buying an additional 13,756 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Everest Re Group by 2.6% in the second quarter. Franklin Resources Inc. now owns 5,180 shares of the company’s stock worth $946,000 after buying an additional 130 shares during the period. 92.81% of the stock is currently owned by institutional investors.
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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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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