Delphi Management Inc. MA lessened its holdings in Everest Re Group, Ltd. (NYSE:RE) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,928 shares of the insurance provider’s stock after selling 995 shares during the quarter. Everest Re Group accounts for approximately 1.4% of Delphi Management Inc. MA’s investment portfolio, making the stock its 18th biggest position. Delphi Management Inc. MA’s holdings in Everest Re Group were worth $2,528,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RE. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Everest Re Group during the 1st quarter valued at $200,000. Nordea Investment Management AB boosted its holdings in shares of Everest Re Group by 69.9% during the 1st quarter. Nordea Investment Management AB now owns 1,196 shares of the insurance provider’s stock valued at $280,000 after acquiring an additional 492 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Everest Re Group by 10.2% during the 1st quarter. Neuberger Berman Group LLC now owns 3,006 shares of the insurance provider’s stock valued at $703,000 after acquiring an additional 279 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Everest Re Group by 21.5% during the 1st quarter. Wellington Management Group LLP now owns 86,593 shares of the insurance provider’s stock valued at $20,246,000 after acquiring an additional 15,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Everest Re Group by 0.4% during 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 acquiring an additional 28 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Everest Re Group, Ltd. (RE) traded down 0.70% on Wednesday, reaching $223.20. The company had a trading volume of 183,188 shares. The company has a market capitalization of $9.17 billion, a PE ratio of 7.69 and a beta of 0.62. The company’s 50-day moving average is $234.03 and its 200-day moving average is $247.72. Everest Re Group, Ltd. has a one year low of $189.78 and a one year high of $277.17.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $3.17 earnings per share. Equities research analysts predict that Everest Re Group, Ltd. will post ($3.24) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a dividend of $1.25 per share. The ex-dividend date was Friday, September 1st. This represents a $5.00 annualized dividend and a yield of 2.22%. Everest Re Group’s payout ratio is 17.15%.

Several equities research analysts recently weighed in on RE shares. BidaskClub raised Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating and set a $259.00 price objective (up previously from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective on the stock in a report on Friday, July 7th. Keefe, Bruyette & Woods downgraded Everest Re Group from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $251.00 to $245.00 in a report on Monday, July 17th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $247.89.

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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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