Capital International Sarl boosted its holdings in Everest Re Group Ltd (NYSE:RE) by 235.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,734 shares of the insurance provider’s stock after purchasing an additional 6,134 shares during the quarter. Capital International Sarl’s holdings in Everest Re Group were worth $2,418,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Capital International Investors raised its holdings in Everest Re Group by 201.6% during the 4th quarter. Capital International Investors now owns 859,252 shares of the insurance provider’s stock valued at $237,875,000 after buying an additional 574,385 shares during the period. Capital Bank & Trust Co raised its holdings in Everest Re Group by 235.1% during the 4th quarter. Capital Bank & Trust Co now owns 87,015 shares of the insurance provider’s stock valued at $24,089,000 after buying an additional 61,045 shares during the period. Janus Henderson Group PLC raised its holdings in Everest Re Group by 47.5% during the 4th quarter. Janus Henderson Group PLC now owns 243,265 shares of the insurance provider’s stock valued at $67,346,000 after buying an additional 78,297 shares during the period. Point72 Asset Management L.P. purchased a new stake in Everest Re Group during the 4th quarter valued at $75,934,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Everest Re Group by 163.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 6,624 shares of the insurance provider’s stock valued at $1,834,000 after buying an additional 4,113 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.
In other news, Director William F. Galtney, Jr. purchased 1,500 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $240.45 per share, with a total value of $360,675.00. 1.40% of the stock is currently owned by corporate insiders.
Shares of RE traded up $14.53 during midday trading on Thursday, reaching $189.36. 297,707 shares of the stock were exchanged, compared to its average volume of 538,920. Everest Re Group Ltd has a 52 week low of $168.16 and a 52 week high of $294.31. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $250.54 and its two-hundred day moving average is $262.42. The company has a market capitalization of $7.57 billion, a P/E ratio of 7.63 and a beta of 0.36.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.56. Everest Re Group had a return on equity of 9.85% and a net margin of 12.31%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned ($5.89) EPS. On average, sell-side analysts expect that Everest Re Group Ltd will post 24.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Wednesday, March 11th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 10th. Everest Re Group’s payout ratio is 29.05%.
Several equities analysts have commented on RE shares. ValuEngine raised Everest Re Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Barclays reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Everest Re Group in a research report on Tuesday, January 7th. Cfra upped their price objective on Everest Re Group from $272.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Deutsche Bank upped their price objective on Everest Re Group from $253.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Citigroup started coverage on Everest Re Group in a research report on Tuesday, January 21st. They issued a “neutral” rating and a $302.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $272.22.
Everest Re Group 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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