Royal Bank of Canada decreased its position in Everest Re Group Ltd (NYSE:RE) by 44.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 49,466 shares of the insurance provider’s stock after selling 39,695 shares during the quarter. Royal Bank of Canada owned 0.10% of Everest Re Group worth $9,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Everest Re Group by 4.9% during the 1st quarter. AQR Capital Management LLC now owns 2,101,769 shares of the insurance provider’s stock worth $404,422,000 after acquiring an additional 98,239 shares during the last quarter. Franklin Resources Inc. grew its holdings in Everest Re Group by 23.0% during the 4th quarter. Franklin Resources Inc. now owns 1,455,219 shares of the insurance provider’s stock worth $402,862,000 after acquiring an additional 271,720 shares during the last quarter. Capital International Investors grew its holdings in Everest Re Group by 50.3% during the 1st quarter. Capital International Investors now owns 1,291,301 shares of the insurance provider’s stock worth $248,472,000 after acquiring an additional 432,049 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Everest Re Group by 47.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,062,692 shares of the insurance provider’s stock worth $204,484,000 after acquiring an additional 340,598 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Everest Re Group by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,046,625 shares of the insurance provider’s stock worth $201,392,000 after acquiring an additional 45,035 shares during the last quarter. 74.56% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Deutsche Bank decreased their price objective on shares of Everest Re Group from $270.00 to $250.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Credit Suisse Group cut their target price on shares of Everest Re Group from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Keefe, Bruyette & Woods upgraded shares of Everest Re Group from a “market perform” rating to an “outperform” rating and set a $263.00 target price on the stock in a research report on Thursday, April 2nd. Wells Fargo & Co upgraded shares of Everest Re Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $203.00 to $255.00 in a research report on Tuesday, June 16th. Finally, Citigroup cut their target price on shares of Everest Re Group from $302.00 to $219.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $243.90.

In other Everest Re Group news, Chairman Joseph V. Taranto sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $172.99, for a total transaction of $2,075,880.00. Following the sale, the chairman now directly owns 289,851 shares in the company, valued at approximately $50,141,324.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Geraldine Losquadro sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $169.42, for a total transaction of $33,884.00. Following the sale, the director now owns 10,840 shares in the company, valued at $1,836,512.80. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Shares of NYSE:RE opened at $202.53 on Tuesday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 12.14 and a beta of 0.45. The firm’s 50 day simple moving average is $202.87 and its 200 day simple moving average is $231.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.32 and a quick ratio of 0.32. Everest Re Group Ltd has a fifty-two week low of $157.32 and a fifty-two week high of $294.31.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.26. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.99 billion. Everest Re Group had a net margin of 8.25% and a return on equity of 8.48%. Everest Re Group’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $6.91 EPS. Equities research analysts expect that Everest Re Group Ltd will post 15.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were given a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.06%. Everest Re Group’s dividend payout ratio is 29.05%.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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 United States.

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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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