Everest Re Group, Ltd. (NYSE:RE) Short Interest Update

Everest Re Group, Ltd. (NYSE:REGet Rating) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 530,200 shares, an increase of 22.4% from the May 31st total of 433,000 shares. Based on an average daily trading volume, of 235,400 shares, the short-interest ratio is presently 2.3 days. Approximately 1.8% of the shares of the company are short sold.

Separately, StockNews.com upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 21st.

Everest Re Group stock opened at $277.42 on Wednesday. The firm has a 50 day simple moving average of $278.81 and a 200-day simple moving average of $283.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $10.94 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 0.83 and a beta of 0.61. Everest Re Group has a 12-month low of $234.87 and a 12-month high of $308.20.

Everest Re Group (NYSE:REGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The insurance provider reported $10.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.32 by $1.99. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Everest Re Group had a net margin of 11.11% and a return on equity of 12.97%. During the same period last year, the firm posted $6.49 earnings per share. On average, analysts forecast that Everest Re Group will post 34.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Wednesday, May 25th were issued a $1.65 dividend. The ex-dividend date was Tuesday, May 24th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.55. This represents a $6.60 annualized dividend and a dividend yield of 2.38%. Everest Re Group’s dividend payout ratio (DPR) is 19.66%.

Several institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in Everest Re Group by 1.0% during the first quarter. CIBC Asset Management Inc now owns 3,733 shares of the insurance provider’s stock valued at $1,125,000 after purchasing an additional 36 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Everest Re Group by 18.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 236 shares of the insurance provider’s stock worth $64,000 after buying an additional 37 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in Everest Re Group by 2.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,149 shares of the insurance provider’s stock worth $589,000 after buying an additional 49 shares in the last quarter. Ancora Advisors LLC lifted its position in Everest Re Group by 6.9% in the 1st quarter. Ancora Advisors LLC now owns 775 shares of the insurance provider’s stock worth $192,000 after buying an additional 50 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in Everest Re Group by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 11,211 shares of the insurance provider’s stock worth $3,379,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Everest Re Group Company Profile (Get Rating)

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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