Lodestar Investment Counsel LLC IL boosted its position in shares of Everest Re Group Ltd (NYSE:RE) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,020 shares of the insurance provider’s stock after acquiring an additional 2,260 shares during the period. Everest Re Group accounts for about 1.5% of Lodestar Investment Counsel LLC IL’s holdings, making the stock its 24th biggest position. Lodestar Investment Counsel LLC IL’s holdings in Everest Re Group were worth $13,713,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in Everest Re Group during the second quarter valued at approximately $109,000. Acadian Asset Management LLC lifted its position in Everest Re Group by 299.3% during the second quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 431 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in Everest Re Group by 38.7% during the second quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 240 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in Everest Re Group during the second quarter valued at approximately $207,000. Finally, Signition LP bought a new stake in Everest Re Group during the second quarter valued at approximately $231,000. 92.94% of the stock is owned by institutional investors.
Shares of RE traded down $4.96 during mid-day trading on Thursday, reaching $211.05. The company’s stock had a trading volume of 11,339 shares, compared to its average volume of 308,043. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.32 and a beta of 0.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.35. Everest Re Group Ltd has a 52 week low of $206.68 and a 52 week high of $264.88.
Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, July 30th. The insurance provider reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.03). The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.72 billion. Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. During the same quarter in the previous year, the firm posted $5.51 earnings per share. As a group, equities research analysts predict that Everest Re Group Ltd will post 17.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th were issued a $1.30 dividend. The ex-dividend date was Tuesday, September 4th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.46%. Everest Re Group’s payout ratio is 57.14%.
In other news, CEO John P. Doucette sold 900 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $215.32, for a total value of $193,788.00. Following the completion of the sale, the chief executive officer now directly owns 22,620 shares in the company, valued at approximately $4,870,538.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Credit Suisse Group initiated coverage on shares of Everest Re Group in a report on Tuesday, August 7th. They issued a “neutral” rating and a $239.00 price objective for the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $240.00 price objective on shares of Everest Re Group in a report on Wednesday, August 1st. Finally, Wells Fargo & Co restated a “hold” rating and issued a $240.00 price objective on shares of Everest Re Group in a report on Thursday, July 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $253.00.
Everest Re Group Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.
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