Parallel Advisors LLC lowered its position in Everest Re Group Ltd (NYSE:RE) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 830 shares of the insurance provider’s stock after selling 51 shares during the period. Parallel Advisors LLC’s holdings in Everest Re Group were worth $221,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Everest Re Group by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,402,694 shares of the insurance provider’s stock worth $1,088,258,000 after acquiring an additional 36,288 shares during the last quarter. BlackRock Inc. increased its holdings in Everest Re Group by 16.3% in the 2nd quarter. BlackRock Inc. now owns 3,965,427 shares of the insurance provider’s stock worth $980,173,000 after acquiring an additional 555,838 shares during the last quarter. AQR Capital Management LLC increased its holdings in Everest Re Group by 2.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,272,631 shares of the insurance provider’s stock worth $312,571,000 after acquiring an additional 24,532 shares during the last quarter. Invesco Ltd. increased its holdings in Everest Re Group by 122.1% in the 2nd quarter. Invesco Ltd. now owns 730,130 shares of the insurance provider’s stock worth $180,473,000 after acquiring an additional 401,412 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Everest Re Group by 0.6% in the 2nd quarter. Northern Trust Corp now owns 503,334 shares of the insurance provider’s stock worth $124,414,000 after acquiring an additional 2,859 shares during the last quarter. 91.79% of the stock is owned by institutional investors.
RE stock traded up $1.76 during mid-day trading on Friday, reaching $265.35. 187,091 shares of the company traded hands, compared to its average volume of 294,243. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.32 and a quick ratio of 0.37. The company has a market capitalization of $10.56 billion, a P/E ratio of 57.06, a P/E/G ratio of 1.15 and a beta of 0.24. Everest Re Group Ltd has a 52-week low of $201.09 and a 52-week high of $268.95. The company has a fifty day moving average price of $256.82 and a 200-day moving average price of $250.41.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, October 28th. The insurance provider reported $3.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $1.32. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.03 billion. Everest Re Group had a return on equity of 5.90% and a net margin of 5.30%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.09 EPS. As a group, analysts forecast that Everest Re Group Ltd will post 22.6 EPS for the current year.
Several equities research analysts recently weighed in on the company. Credit Suisse Group set a $256.00 price objective on Everest Re Group and gave the stock a “hold” rating in a report on Sunday, September 15th. Wells Fargo & Co reissued a “hold” rating and issued a $250.00 price objective on shares of Everest Re Group in a report on Monday, October 28th. Barclays set a $300.00 price objective on Everest Re Group and gave the stock a “buy” rating in a report on Monday, August 12th. ValuEngine lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $261.67.
In other Everest Re Group news, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the completion of the transaction, the chief executive officer now owns 22,747 shares of the company’s stock, valued at approximately $5,731,561.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.
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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