Chemical Bank raised its holdings in Everest Re Group, Ltd. (NYSE:RE) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,159 shares of the insurance provider’s stock after buying an additional 210 shares during the quarter. Chemical Bank’s holdings in Everest Re Group were worth $2,840,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. IFP Advisors Inc increased its holdings in Everest Re Group by 1.6% in the 1st quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares during the period. Huntington National Bank increased its holdings in Everest Re Group by 1.5% in the 2nd quarter. Huntington National Bank now owns 921 shares of the insurance provider’s stock valued at $235,000 after buying an additional 14 shares during the period. Torray LLC increased its holdings in Everest Re Group by 0.8% in the 2nd quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock valued at $466,000 after buying an additional 15 shares during the period. Wetherby Asset Management Inc. increased its holdings in Everest Re Group by 2.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock valued at $330,000 after buying an additional 25 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Everest Re Group by 0.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,634 shares of the insurance provider’s stock valued at $1,784,000 after buying an additional 28 shares during the period. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on RE. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $294.00 price target on the stock in a report on Tuesday, August 1st. UBS AG restated a “neutral” rating and issued a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a research note on Tuesday, August 1st. Buckingham Research initiated coverage on shares of Everest Re Group in a research note on Monday. They issued a “neutral” rating and a $255.00 target price on the stock. Barclays PLC boosted their target price on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Finally, BidaskClub downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $250.78.

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Shares of Everest Re Group, Ltd. (RE) traded down 0.877% during midday trading on Wednesday, hitting $231.205. 93,126 shares of the stock traded hands. The stock has a 50 day moving average of $256.97 and a 200 day moving average of $248.92. Everest Re Group, Ltd. has a 1-year low of $183.04 and a 1-year high of $277.17. The company has a market capitalization of $9.49 billion, a P/E ratio of 7.933 and a beta of 0.64.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping the Zacks’ consensus estimate of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business earned $3.17 earnings per share. Equities research analysts predict that Everest Re Group, Ltd. will post $21.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, September 1st. Everest Re Group’s payout ratio is currently 17.15%.

Everest Re Group Company Profile

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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