AMP Capital Investors Ltd Has $7.83 Million Position in Everest Re Group Ltd (RE)
AMP Capital Investors Ltd trimmed its position in Everest Re Group Ltd (NYSE:RE) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,296 shares of the insurance provider’s stock after selling 11,503 shares during the period. AMP Capital Investors Ltd’s holdings in Everest Re Group were worth $7,828,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Everest Re Group during the 2nd quarter worth $109,000. Truvestments Capital LLC purchased a new stake in shares of Everest Re Group during the 3rd quarter worth $109,000. Acadian Asset Management LLC boosted its position in shares of Everest Re Group by 299.3% during the 2nd quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 431 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of Everest Re Group during the 2nd quarter worth $207,000. Finally, Signition LP purchased a new stake in shares of Everest Re Group during the 2nd quarter worth $231,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
Several brokerages have commented on RE. Citigroup decreased their target price on shares of Everest Re Group from $237.00 to $232.00 and set a “hold” rating on the stock in a research report on Monday, October 22nd. TheStreet lowered shares of Everest Re Group from a “b” rating to a “c+” rating in a research report on Thursday, September 6th. Wells Fargo & Co reiterated a “hold” rating and issued a $235.00 price objective on shares of Everest Re Group in a research report on Thursday, October 18th. Deutsche Bank decreased their price objective on shares of Everest Re Group from $250.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Finally, Zacks Investment Research upgraded shares of Everest Re Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $254.11.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.07 by $1.02. Everest Re Group had a net margin of 14.19% and a return on equity of 11.82%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted ($16.43) EPS. Analysts forecast that Everest Re Group Ltd will post 16.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Tuesday, November 27th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.30. Everest Re Group’s dividend payout ratio is 61.54%.
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Everest Re Group Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the Unites States.
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