Northern Trust Corp lessened its stake in shares of Everest Re Group Ltd (NYSE:RE) by 0.4% during the first quarter, HoldingsChannel reports. The firm owned 500,475 shares of the insurance provider’s stock after selling 1,805 shares during the period. Northern Trust Corp’s holdings in Everest Re Group were worth $108,083,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Somerset Trust Co lifted its stake in shares of Everest Re Group by 190.5% during the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 80 shares in the last quarter. Stamos Capital Partners L.P. acquired a new position in shares of Everest Re Group during the fourth quarter worth about $28,000. Penserra Capital Management LLC acquired a new position in shares of Everest Re Group during the fourth quarter worth about $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Everest Re Group by 282.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 161 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Everest Re Group by 215.2% during the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.
Shares of NYSE RE opened at $250.11 on Friday. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $254.57. The stock has a market cap of $10.19 billion, a PE ratio of 53.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.91 by $1.00. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company earned $5.34 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Everest Re Group Ltd will post 24.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, May 28th. Everest Re Group’s payout ratio is 120.43%.
RE has been the topic of a number of recent research reports. ValuEngine upgraded Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Morgan Stanley boosted their price objective on Everest Re Group from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Deutsche Bank cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, UBS Group boosted their price objective on Everest Re Group from $236.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $253.20.
In related news, SVP Jonathan Zaffino sold 1,048 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total value of $259,914.48. Following the completion of the sale, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at $2,385,112.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Weber sold 500 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $246.46, for a total value of $123,230.00. Following the completion of the sale, the director now directly owns 6,499 shares of the company’s stock, valued at $1,601,743.54. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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Everest Re Group Company 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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