BT Investment Management Ltd Takes $11.72 Million Position in Everest Re Group, Ltd. (RE)

BT Investment Management Ltd purchased a new stake in Everest Re Group, Ltd. (NYSE:RE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,032 shares of the insurance provider’s stock, valued at approximately $11,719,000. BT Investment Management Ltd owned about 0.11% of Everest Re Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in Everest Re Group by 4,778.3% during the 1st quarter. BlackRock Inc. now owns 3,909,246 shares of the insurance provider’s stock worth $914,021,000 after buying an additional 3,829,110 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Everest Re Group by 28.9% during the 1st quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after buying an additional 289,351 shares during the last quarter. American Century Companies Inc. lifted its holdings in Everest Re Group by 190.2% during the 2nd quarter. American Century Companies Inc. now owns 281,630 shares of the insurance provider’s stock worth $71,700,000 after buying an additional 184,576 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Everest Re Group by 37.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 466,483 shares of the insurance provider’s stock worth $118,762,000 after buying an additional 126,065 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Everest Re Group by 60.7% during the 2nd quarter. Sei Investments Co. now owns 300,323 shares of the insurance provider’s stock worth $76,459,000 after buying an additional 113,415 shares during the last quarter. 92.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Everest Re Group, Ltd. (NYSE:RE) traded up 1.03% during mid-day trading on Friday, hitting $231.66. The stock had a trading volume of 540,138 shares. The firm has a 50 day moving average of $253.26 and a 200 day moving average of $248.64. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 7.95 and a beta of 0.64. Everest Re Group, Ltd. has a one year low of $183.04 and a one year high of $277.17.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business earned $3.17 earnings per share. On average, analysts forecast that Everest Re Group, Ltd. will post $20.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, September 1st. Everest Re Group’s payout ratio is 17.15%.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/09/16/bt-investment-management-ltd-takes-11-72-million-position-in-everest-re-group-ltd-re.html.

RE has been the topic of a number of research analyst reports. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 target price on the stock in a report on Monday, July 17th. BidaskClub raised Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine downgraded Everest Re Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $259.00 target price (up previously from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Finally, Wells Fargo & Company reaffirmed 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, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $250.78.

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)

Receive News & Ratings for Everest Re Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply