Everest Re Group Ltd. (RE) Shares Sold by Parkwood LLC
Parkwood LLC lowered its position in Everest Re Group Ltd. (NYSE:RE) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,513 shares of the company’s stock after selling 435 shares during the period. Parkwood LLC’s holdings in Everest Re Group were worth $459,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RE. Norges Bank acquired a new stake in shares of Everest Re Group during the fourth quarter valued at approximately $112,285,000. Virginia Retirement System acquired a new stake in shares of Everest Re Group during the first quarter valued at approximately $27,087,000. Renaissance Technologies LLC raised its stake in shares of Everest Re Group by 145.1% in the first quarter. Renaissance Technologies LLC now owns 204,200 shares of the company’s stock valued at $40,315,000 after buying an additional 120,900 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Everest Re Group by 6.1% in the first quarter. BlackRock Fund Advisors now owns 1,829,070 shares of the company’s stock valued at $361,113,000 after buying an additional 105,881 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Everest Re Group by 27.0% in the first quarter. Panagora Asset Management Inc. now owns 314,265 shares of the company’s stock valued at $62,045,000 after buying an additional 66,860 shares in the last quarter. Institutional investors own 92.11% of the company’s stock.
Everest Re Group Ltd. (NYSE:RE) traded down 1.20% during trading on Friday, hitting $188.21. The company had a trading volume of 374,307 shares. The firm’s 50 day moving average is $190.27 and its 200-day moving average is $186.68. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 10.51 and a beta of 0.60. Everest Re Group Ltd. has a 52-week low of $167.07 and a 52-week high of $199.98.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, July 25th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.32. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. During the same period in the previous year, the company earned $5.03 EPS. On average, equities analysts forecast that Everest Re Group Ltd. will post $16.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $4.60 annualized dividend and a dividend yield of 2.44%. Everest Re Group’s dividend payout ratio (DPR) is currently 25.66%.
Several brokerages have recently commented on RE. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Keefe, Bruyette & Woods increased their price objective on Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Barclays PLC reiterated an “overweight” rating and set a $215.00 price objective on shares of Everest Re Group in a report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Everest Re Group presently has an average rating of “Hold” and a consensus price target of $201.83.
In other news, VP John P. Doucette sold 1,840 shares of Everest Re Group stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $189.84, for a total transaction of $349,305.60. Following the completion of the sale, the vice president now directly owns 23,265 shares of the company’s stock, valued at approximately $4,416,627.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John R. Dunne sold 200 shares of Everest Re Group stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total transaction of $38,006.00. Following the sale, the director now directly owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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