CIBC Asset Management Inc increased its position in Everest Re Group, Ltd. (NYSE:RE) by 34.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,434 shares of the insurance provider’s stock after buying an additional 1,632 shares during the period. CIBC Asset Management Inc’s holdings in Everest Re Group were worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position 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 buying an additional 3,829,110 shares during the last quarter. Karp Capital Management Corp acquired a new position in Everest Re Group during the first quarter worth $69,686,000. AQR Capital Management LLC raised its position 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 buying an additional 289,351 shares during the last quarter. WINTON GROUP Ltd raised its position in Everest Re Group by 126.4% in the first quarter. WINTON GROUP Ltd now owns 186,030 shares of the insurance provider’s stock worth $35,340,000 after buying an additional 103,847 shares during the last quarter. Finally, Vanguard Group Inc. raised its position 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 buying an additional 93,473 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Everest Re Group, Ltd. (RE) opened at 268.72 on Thursday. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 9.20 and a beta of 0.63. Everest Re Group, Ltd. has a 52-week low of $183.04 and a 52-week high of $277.17. The company’s 50-day moving average is $262.59 and its 200-day moving average is $244.73.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same period in the previous year, the company posted $3.17 earnings per share. Equities analysts predict that Everest Re Group, Ltd. will post $21.29 earnings per share for the current year.

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A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and set a $256.00 price target (up from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. BidaskClub lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $251.00 to $245.00 in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Everest Re Group has a consensus rating of “Hold” and an average target price of $249.50.

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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