Arizona State Retirement System lowered its stake in Everest Re Group, Ltd. (NYSE:RE) by 48.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,348 shares of the insurance provider’s stock after selling 16,252 shares during the period. Arizona State Retirement System’s holdings in Everest Re Group were worth $4,417,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Everest Re Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 240,758 shares of the insurance provider’s stock valued at $56,302,000 after buying an additional 1,075 shares during the period. Shell Asset Management Co. increased its stake in shares of Everest Re Group by 20.3% in the first quarter. Shell Asset Management Co. now owns 18,091 shares of the insurance provider’s stock valued at $4,230,000 after buying an additional 3,056 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Everest Re Group during the first quarter valued at $209,000. Meritage Portfolio Management increased its stake in shares of Everest Re Group by 0.9% in the first quarter. Meritage Portfolio Management now owns 29,999 shares of the insurance provider’s stock valued at $7,014,000 after buying an additional 258 shares during the period. Finally, BTIM Corp. increased its stake in shares of Everest Re Group by 6.5% in the first quarter. BTIM Corp. now owns 30,935 shares of the insurance provider’s stock valued at $7,233,000 after buying an additional 1,887 shares during the period. Institutional investors and hedge funds own 91.63% of the company’s stock.

Shares of Everest Re Group, Ltd. (RE) opened at 268.94 on Tuesday. The stock’s 50 day moving average is $263.62 and its 200-day moving average is $245.95. Everest Re Group, Ltd. has a 52-week low of $183.04 and a 52-week high of $277.17. The firm has a market capitalization of $11.04 billion, a P/E ratio of 9.23 and a beta of 0.63.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $3.17 EPS. On average, equities analysts forecast that Everest Re Group, Ltd. will post $21.48 earnings per share for the current fiscal year.

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Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reiterated a “hold” rating on shares of Everest Re Group in a research note on Monday, July 24th. Barclays PLC increased their target price on shares of Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday. UBS AG reiterated a “neutral” rating and set a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $250.25.

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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