Legacy Capital Partners Inc. Decreases Position in Everest Re Group, Ltd. (RE)
Legacy Capital Partners Inc. decreased its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,077 shares of the insurance provider’s stock after selling 476 shares during the period. Legacy Capital Partners Inc.’s holdings in Everest Re Group were worth $931,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RE. Vanguard Group Inc. lifted its stake in Everest Re Group by 23.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock worth $956,473,000 after acquiring an additional 704,287 shares in the last quarter. State Street Corp raised its position in Everest Re Group by 26.4% in the 2nd quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock valued at $549,219,000 after purchasing an additional 450,606 shares in the last quarter. Janus Henderson Group PLC raised its position in Everest Re Group by 7,587.2% in the 2nd quarter. Janus Henderson Group PLC now owns 344,770 shares of the insurance provider’s stock valued at $87,775,000 after purchasing an additional 340,285 shares in the last quarter. APG Asset Management N.V. raised its position in Everest Re Group by 43.6% in the 3rd quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after purchasing an additional 313,700 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Everest Re Group by 190.2% in the 2nd quarter. American Century Companies Inc. now owns 281,630 shares of the insurance provider’s stock valued at $71,700,000 after purchasing an additional 184,576 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
Everest Re Group, Ltd. (RE) traded up $0.85 during trading hours on Monday, reaching $226.32. The company had a trading volume of 832,900 shares, compared to its average volume of 400,218. The stock has a market cap of $9,294.89, a P/E ratio of 53.89, a PEG ratio of 13.06 and a beta of 0.65. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group, Ltd. has a 12-month low of $206.60 and a 12-month high of $277.17.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.53 EPS. equities research analysts predict that Everest Re Group, Ltd. will post 1.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, November 28th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s dividend payout ratio (DPR) is currently 78.49%.
A number of research firms have issued reports on RE. Zacks Investment Research lowered Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Barclays PLC increased their price target on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. UBS AG reissued a “neutral” rating and set a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. BidaskClub lowered Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Hold” and an average price target of $248.56.
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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.
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