ProShare Advisors LLC Sells 102 Shares of Everest Re Group Ltd (RE)
ProShare Advisors LLC decreased its stake in Everest Re Group Ltd (NYSE:RE) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,375 shares of the insurance provider’s stock after selling 102 shares during the period. ProShare Advisors LLC’s holdings in Everest Re Group were worth $2,192,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. TLP Group LLC bought a new stake in Everest Re Group during the third quarter valued at approximately $121,000. SSI Investment Management Inc. acquired a new position in shares of Everest Re Group during the fourth quarter valued at $206,000. HM Payson & Co. acquired a new position in shares of Everest Re Group during the third quarter valued at $209,000. Advisor Group Inc. raised its position in shares of Everest Re Group by 21.6% in the third quarter. Advisor Group Inc. now owns 1,429 shares of the insurance provider’s stock valued at $256,000 after buying an additional 254 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of Everest Re Group during the fourth quarter valued at $269,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
Everest Re Group Ltd (NYSE:RE) traded up 0.523% on Friday, reaching $245.125. 48,347 shares of the company were exchanged. The stock has a market capitalization of $10.07 billion, a P/E ratio of 9.147 and a beta of 0.49. The company’s 50-day moving average price is $240.94 and its 200-day moving average price is $226.32. Everest Re Group Ltd has a 12-month low of $169.19 and a 12-month high of $258.30.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, April 24th. The insurance provider reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.35 by $0.94. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Everest Re Group had a return on equity of 12.44% and a net margin of 17.19%. During the same quarter in the previous year, the firm earned $5.19 EPS. Equities research analysts anticipate that Everest Re Group Ltd will post $20.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Wednesday, May 31st will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 26th. Everest Re Group’s dividend payout ratio is presently 21.00%.
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Several brokerages recently weighed in on RE. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Barclays PLC increased their target price on shares of Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Wells Fargo & Co reiterated a “hold” rating on shares of Everest Re Group in a report on Monday, April 24th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $262.00 target price (up from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $234.83.
In other Everest Re Group news, VP John P. Doucette sold 1,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $256.03, for a total value of $256,030.00. Following the completion of the transaction, the vice president now owns 21,834 shares of the company’s stock, valued at approximately $5,590,159.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John R. Dunne sold 500 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $234.75, for a total value of $117,375.00. Following the completion of the transaction, the director now directly owns 12,079 shares of the company’s stock, valued at approximately $2,835,545.25. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
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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