Accident Compensation Corp lowered its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 7.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,500 shares of the insurance provider’s stock after selling 1,600 shares during the period. Everest Re Group makes up about 1.4% of Accident Compensation Corp’s investment portfolio, making the stock its 23rd largest position. Accident Compensation Corp’s holdings in Everest Re Group were worth $5,219,000 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. Toronto Dominion Bank raised its stake in shares of Everest Re Group by 23.1% during the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 84 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Everest Re Group during the second quarter valued at approximately $160,000. IFP Advisors Inc raised its stake in shares of Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 148 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Everest Re Group during the first quarter valued at approximately $200,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Everest Re Group during the first quarter valued at approximately $204,000. Institutional investors own 92.39% of the company’s stock.
Shares of Everest Re Group, Ltd. (NYSE:RE) traded up 1.03% during mid-day trading on Friday, hitting $231.66. 540,138 shares of the company were exchanged. The stock’s 50-day moving average price is $253.26 and its 200 day moving average price is $248.64. The stock has a market cap of $9.51 billion, a PE ratio of 7.95 and a beta of 0.64. Everest Re Group, Ltd. has a 12-month low of $183.04 and a 12-month high of $277.17.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $3.17 earnings per share. On average, equities analysts anticipate that Everest Re Group, Ltd. will post $20.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $5.00 annualized dividend and a dividend yield of 2.16%. Everest Re Group’s dividend payout ratio is 17.15%.
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RE has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Morgan Stanley restated an “equal weight” rating and issued a $259.00 price target (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Finally, Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $250.78.
Everest Re Group 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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