Teacher Retirement System of Texas decreased its stake in Everest Re Group Ltd. (NYSE:RE) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,641 shares of the company’s stock after selling 2,456 shares during the period. Teacher Retirement System of Texas owned about 0.18% of Everest Re Group worth $13,990,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Everest Re Group by 56.5% in the second quarter. JPMorgan Chase & Co. now owns 967,425 shares of the company’s stock valued at $176,719,000 after buying an additional 349,160 shares during the period. Bank of Montreal Can purchased a new position in shares of Everest Re Group during the second quarter valued at $56,042,000. Emerald Acquisition Ltd. purchased a new position in shares of Everest Re Group during the second quarter valued at $41,113,000. Virginia Retirement Systems ET AL purchased a new position in shares of Everest Re Group during the second quarter valued at $29,008,000. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Everest Re Group during the second quarter valued at $22,055,000. Institutional investors own 90.84% of the company’s stock.

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

Everest Re Group Ltd. (NYSE:RE) traded up 1.46% on Tuesday, hitting $211.70. 130,481 shares of the stock were exchanged. The company has a market cap of $8.65 billion, a PE ratio of 9.20 and a beta of 0.48. Everest Re Group Ltd. has a 52 week low of $167.07 and a 52 week high of $214.86. The company’s 50-day moving average is $203.16 and its 200-day moving average is $189.29.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 24th. The company reported $6.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $3.29. Everest Re Group had a return on equity of 12.50% and a net margin of 17.07%. The business earned $1.51 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $4.53 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Everest Re Group Ltd. will post $18.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be paid a dividend of $1.25 per share. The ex-dividend date is Monday, November 28th. This represents a $5.00 annualized dividend and a yield of 2.39%. This is a boost from Everest Re Group’s previous quarterly dividend of $1.15. Everest Re Group’s dividend payout ratio (DPR) is currently 20.01%.

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Several brokerages recently weighed in on RE. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research note on Friday, November 18th. 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 company from $166.00 to $195.00 in a research note on Tuesday, November 15th. Finally, Barclays PLC boosted their target price on shares of Everest Re Group from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $215.20.

In related news, Director John R. Dunne sold 200 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total transaction of $38,006.00. Following the completion of the transaction, the director now owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

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.

5 Day Chart for NYSE:RE

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